EMCORE (NASDAQ:EMKR) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Stock Down 2.0 %

Shares of NASDAQ EMKR opened at $2.93 on Thursday. 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 company has a 50-day moving average of $2.59 and a 200 day moving average of $1.63. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20. The stock has a market cap of $26.57 million, a PE ratio of -0.33 and a beta of 1.70.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. increased its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

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.