StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report report published on Saturday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

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

EMCORE Price Performance

EMKR opened at $3.07 on Friday. The company’s 50 day simple moving average is $3.03 and its two-hundred day simple moving average is $2.33. EMCORE has a 1-year low of $0.78 and a 1-year high of $4.60. The firm has a market capitalization of $27.88 million, a price-to-earnings ratio of -1.05 and a beta of 1.70.

Institutional Trading of EMCORE

Several institutional investors have recently made changes to their positions in EMKR. Beryl Capital Management LLC purchased a new stake in shares of EMCORE during the 4th quarter valued at approximately $2,625,000. Gardner Lewis Asset Management L P purchased a new stake in shares of EMCORE during the 4th quarter valued at approximately $1,758,000. Gabelli Funds LLC purchased a new stake in shares of EMCORE during the 4th quarter valued at approximately $225,000. CSS LLC IL purchased a new stake in shares of EMCORE during the 4th quarter valued at approximately $164,000. Finally, Virtu Financial LLC purchased a new stake in shares of EMCORE during the 4th quarter valued at approximately $88,000. 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.