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

Stock analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Stock Up 0.7 %

Shares of EMCORE stock opened at $3.05 on Thursday. The stock has a market cap of $27.70 million, a PE ratio of -1.05 and a beta of 1.70. The business has a fifty day simple moving average of $3.01 and a 200-day simple moving average of $2.18. EMCORE has a 12 month low of $0.78 and a 12 month high of $6.89.

Institutional Trading of EMCORE

A hedge fund recently bought a new stake in EMCORE stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE Co. (NASDAQ:EMKR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000. Newbridge Financial Services Group Inc. owned about 0.14% of EMCORE at the end of the most recent quarter. 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.