EMCORE (NASDAQ:EMKR) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of EMCORE Co. (NASDAQ:EMKR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.67 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on EMCORE in a research report on Wednesday. They issued a “hold” rating on the stock.

EMCORE Stock Up 1.0 %

The firm has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The company’s 50 day moving average is $3.08 and its 200 day moving average is $2.67.

Institutional Investors Weigh In On EMCORE

Several institutional investors and hedge funds have recently added to or reduced their stakes in EMKR. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE during the 4th quarter valued at $39,000. Virtu Financial LLC acquired a new stake in EMCORE during the 4th quarter valued at approximately $88,000. CSS LLC IL acquired a new position in shares of EMCORE in the 4th quarter worth approximately $164,000. Gabelli Funds LLC bought a new stake in shares of EMCORE in the 4th quarter valued at $225,000. Finally, Geode Capital Management LLC raised its stake in EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after buying an additional 11,985 shares during the last quarter. 65.66% of the stock is currently owned by 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.