EMCORE Target of Unusually High Options Trading (NASDAQ:EMKR)

EMCORE Co. (NASDAQ:EMKR) was the recipient of some unusual options trading on Monday. Stock traders purchased 2,249 call options on the stock. This is an increase of 1,440% compared to the typical daily volume of 146 call options.

EMCORE Stock Performance

NASDAQ EMKR traded up $0.07 on Monday, reaching $3.07. 113,407 shares of the company’s stock traded hands, compared to its average volume of 492,917. The stock has a 50 day moving average price of $2.68 and a 200-day moving average price of $1.74. The firm has a market cap of $27.84 million, a price-to-earnings ratio of -0.35 and a beta of 1.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20.

Analysts Set New Price Targets

A number of analysts have commented on EMKR shares. Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com began coverage on EMCORE in a report on Friday. They set a “hold” rating for the company.

Hedge Funds Weigh In On EMCORE

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

EMCORE Company Profile

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.