EMCORE (NASDAQ:EMKR) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

EMCORE Co. (NASDAQ:EMKR)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.03 and traded as high as $3.00. EMCORE shares last traded at $3.00, with a volume of 60,082 shares trading hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com began coverage on shares of EMCORE in a report on Tuesday. They set a “hold” rating for the company. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Stock Performance

The business’s 50 day moving average price is $2.98 and its 200-day moving average price is $2.05. The company has a market cap of $27.78 million, a price-to-earnings ratio of -1.05 and a beta of 1.69.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. 65.66% of the stock is owned by institutional investors and hedge funds.

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.