EMCORE (NASDAQ:EMKR) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

EMCORE Co. (NASDAQ:EMKR) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.32 and traded as high as $3.12. EMCORE shares last traded at $3.07, with a volume of 139,171 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com assumed coverage on shares of EMCORE in a research report on Saturday. They set a “hold” rating on the stock.

EMCORE Trading Down 1.0 %

The firm’s 50-day moving average price is $3.03 and its 200-day moving average price is $2.32. The stock has a market capitalization of $27.88 million, a PE ratio of -1.05 and a beta of 1.70.

Institutional Trading of EMCORE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beryl Capital Management LLC purchased a new stake in EMCORE in the 4th quarter worth about $2,625,000. Gardner Lewis Asset Management L P purchased a new stake in EMCORE in the 4th quarter worth about $1,758,000. Renaissance Technologies LLC raised its position in EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares during the period. Kovack Advisors Inc. raised its position in EMCORE by 29.7% in the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 18,250 shares during the period. Finally, Geode Capital Management LLC raised its position in EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares during the period. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.