EMCORE (NASDAQ:EMKR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note published on Tuesday. The firm issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Stock Performance

NASDAQ EMKR opened at $3.06 on Tuesday. EMCORE has a one year low of $0.78 and a one year high of $7.20. The stock has a 50-day moving average of $2.99 and a 200 day moving average of $2.06. The company has a market capitalization 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. grew its position in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after buying 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 reporting period. 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.