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

Research analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a note issued to investors on Tuesday. 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 Performance

Shares of EMKR stock opened at $3.00 on Tuesday. The stock has a market cap of $27.20 million, a PE ratio of -0.34 and a beta of 1.57. The stock has a 50-day moving average of $2.18 and a 200-day moving average of $1.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. EMCORE has a one year low of $0.78 and a one year high of $7.20.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. raised its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. 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.