EMCORE Co. (NASDAQ:EMKR) Sees Large Growth in Short Interest

EMCORE Co. (NASDAQ:EMKR) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 236,800 shares, a growth of 11.8% from the June 30th total of 211,900 shares. Based on an average daily volume of 801,400 shares, the short-interest ratio is presently 0.3 days. Currently, 3.5% of the shares of the company are short sold.

EMCORE Price Performance

NASDAQ:EMKR traded down $0.01 during trading hours on Monday, reaching $1.21. 117,233 shares of the company were exchanged, compared to its average volume of 420,650. EMCORE has a twelve month low of $0.78 and a twelve month high of $8.50. The company has a current ratio of 3.27, a quick ratio of 1.85 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average is $1.08 and its 200-day moving average is $19.80. The firm has a market cap of $10.01 million, a PE ratio of -0.14 and a beta of 1.51.

EMCORE (NASDAQ:EMKR) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.51. The company had revenue of $19.63 million for the quarter, compared to analysts’ expectations of $24.00 million. EMCORE had a negative return on equity of 27.56% and a negative net margin of 68.57%. On average, sell-side analysts anticipate that EMCORE will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Archon Capital Management Llc sold 1,255,258 shares of EMCORE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $1.12, for a total transaction of $1,405,888.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.94% of the stock is owned by insiders.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Archon Capital Management LLC lifted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 65.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,552,577 shares of the semiconductor company’s stock after purchasing an additional 4,951,568 shares during the period. EMCORE accounts for about 1.5% of Archon Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Archon Capital Management LLC owned approximately 162.39% of EMCORE worth $4,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 65.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EMKR shares. Northland Capmk cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Alliance Global Partners restated a “neutral” rating on shares of EMCORE in a research note on Thursday, May 9th. Finally, StockNews.com upgraded EMCORE from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th.

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.