EMCORE Co. (NASDAQ:EMKR – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 70,300 shares, an increase of 62.4% from the September 15th total of 43,300 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 790,600 shares, the short-interest ratio is currently 0.1 days.
EMCORE Stock Performance
EMKR traded up $0.03 on Monday, hitting $2.32. The company’s stock had a trading volume of 122,323 shares, compared to its average volume of 537,613. EMCORE has a 12 month low of $0.78 and a 12 month high of $7.20. The firm has a market cap of $19.18 million, a P/E ratio of -0.26 and a beta of 1.56. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. The company’s 50 day simple moving average is $1.30 and its 200-day simple moving average is $2.22.
EMCORE (NASDAQ:EMKR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.30). The company had revenue of $20.44 million during the quarter, compared to analysts’ expectations of $20.00 million. EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. Analysts forecast that EMCORE will post -0.25 EPS for the current year.
Wall Street Analysts Forecast Growth
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Hedge Funds Weigh In On EMCORE
An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. lifted its position in EMCORE Co. (NASDAQ:EMKR – Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 887,400 shares of the semiconductor company’s stock after purchasing an additional 83,100 shares during the quarter. Kovack Advisors Inc. owned about 11.48% of EMCORE worth $306,000 at the end of the most recent quarter. 65.66% of the stock is currently 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.
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