EMCORE Co. (NASDAQ:EMKR) Short Interest Up 105.3% in December

EMCORE Co. (NASDAQ:EMKR) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 146,000 shares, an increase of 105.3% from the November 30th total of 71,100 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily volume of 849,600 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Craig Hallum lowered EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com initiated coverage on shares of EMCORE in a research note on Saturday. They issued a “hold” rating for the company.

EMCORE Stock Down 1.0 %

EMCORE stock traded down $0.03 during mid-day trading on Friday, hitting $3.03. The company had a trading volume of 103,297 shares, compared to its average volume of 488,879. EMCORE has a 12 month low of $0.78 and a 12 month high of $7.20. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $1.81. The company has a market capitalization of $27.47 million, a PE ratio of -0.35 and a beta of 1.70.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. grew its holdings in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the period. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 65.66% of the company’s stock.

About EMCORE

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.