EMCORE (NASDAQ:EMKR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

EMCORE Co. (NASDAQ:EMKR) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of EMCORE in a research report on Wednesday. They set a “hold” rating for the company.

EMCORE Trading Up 1.0 %

The stock’s 50-day moving average price is $3.08 and its 200-day moving average price is $2.67. The company has a market cap of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70.

Hedge Funds Weigh In On EMCORE

A number of institutional investors have recently modified their holdings of EMKR. Newbridge Financial Services Group Inc. bought a new stake in EMCORE during the 4th quarter valued at $39,000. CSS LLC IL acquired a new position in shares of EMCORE during the fourth quarter valued at about $164,000. Beryl Capital Management LLC bought a new stake in shares of EMCORE during the fourth quarter worth about $2,625,000. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 9,500 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 valued at $232,000 after acquiring an additional 11,985 shares in the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.

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.