StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR – Free Report) in a report released on Thursday morning. The firm issued a hold rating on the semiconductor company’s stock.
EMCORE Stock Performance
Shares of EMKR stock opened at $3.10 on Thursday. The stock has a fifty day simple moving average of $3.08 and a two-hundred day simple moving average of $2.77. The firm has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. EMCORE has a 52-week low of $0.78 and a 52-week high of $3.33.
Institutional Trading of EMCORE
Several institutional investors and hedge funds have recently added to or reduced their stakes in EMKR. Renaissance Technologies LLC grew its holdings in EMCORE by 6.4% during the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after buying an additional 9,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 11,985 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in EMCORE in the 4th quarter valued at $39,000. Virtu Financial LLC purchased a new stake in EMCORE in the 4th quarter worth $88,000. Finally, CSS LLC IL bought a new position in shares of EMCORE during the 4th quarter valued at about $164,000. Institutional investors own 65.66% of the company’s stock.
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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