EMCORE (NASDAQ:EMKR) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Wednesday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Performance

EMCORE stock opened at $3.10 on Wednesday. The firm has a 50 day moving average price of $3.08 and a two-hundred day moving average price of $2.67. EMCORE has a 52-week low of $0.78 and a 52-week high of $3.80. The firm has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

Institutional Trading of EMCORE

A number of large investors have recently bought and sold shares of EMKR. Newbridge Financial Services Group Inc. bought a new stake in shares of EMCORE during the 4th quarter valued at about $39,000. Virtu Financial LLC bought a new stake in EMCORE in the fourth quarter worth approximately $88,000. CSS LLC IL acquired a new position in EMCORE in the fourth quarter valued at approximately $164,000. Gabelli Funds LLC bought a new position in shares of EMCORE during the 4th quarter worth approximately $225,000. Finally, Geode Capital Management LLC grew its position in shares of EMCORE by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after buying an additional 11,985 shares during the period. 65.66% of the stock is currently owned by institutional investors and hedge funds.

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.