EMCORE Co. (NASDAQ:EMKR) Sees Large Growth in Short Interest

EMCORE Co. (NASDAQ:EMKR) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 301,900 shares, a growth of 329.4% from the September 30th total of 70,300 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 738,400 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EMKR shares. StockNews.com upgraded EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. Craig Hallum raised shares of EMCORE from a “hold” rating to a “buy” rating and upped their price objective for the company from $1.00 to $3.00 in a report on Wednesday, October 2nd.

EMCORE Price Performance

NASDAQ:EMKR remained flat at $2.13 during trading hours on Friday. The company’s stock had a trading volume of 115,069 shares, compared to its average volume of 522,396. EMCORE has a one year low of $0.78 and a one year high of $7.20. The stock has a fifty day simple moving average of $1.56 and a 200-day simple moving average of $1.51. The stock has a market cap of $17.61 million, a P/E ratio of -0.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64.

EMCORE (NASDAQ:EMKR) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.30). The firm had revenue of $20.44 million for the quarter, compared to analyst estimates of $20.00 million. EMCORE had a negative return on equity of 25.05% and a negative net margin of 81.08%. On average, research analysts forecast that EMCORE will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. grew its holdings in EMCORE Co. (NASDAQ:EMKR) by 10.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 887,400 shares of the semiconductor company’s stock after acquiring an additional 83,100 shares during the period. Kovack Advisors Inc. owned about 11.48% of EMCORE worth $306,000 as of its most recent filing with the Securities & Exchange Commission. 65.66% of the stock is currently 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.