EMCORE Co. (NASDAQ:EMKR) Short Interest Update

EMCORE Co. (NASDAQ:EMKR) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 236,800 shares, an increase of 11.8% from the June 30th total of 211,900 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily volume of 801,400 shares, the days-to-cover ratio is currently 0.3 days.

Insider Transactions at EMCORE

In other EMCORE news, major shareholder Archon Capital Management Llc sold 1,255,258 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $1.12, for a total transaction of $1,405,888.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Archon Capital Management LLC raised its position in EMCORE Co. (NASDAQ:EMKR) by 65.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,552,577 shares of the semiconductor company’s stock after buying an additional 4,951,568 shares during the period. EMCORE accounts for about 1.5% of Archon Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Archon Capital Management LLC owned 162.39% of EMCORE worth $4,331,000 at the end of the most recent reporting period. 65.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on EMKR. Northland Capmk downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Alliance Global Partners restated a “neutral” rating on shares of EMCORE in a report on Thursday, May 9th. Finally, StockNews.com raised EMCORE from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th.

EMCORE Stock Performance

NASDAQ EMKR traded down $0.01 during trading on Monday, hitting $1.21. The company’s stock had a trading volume of 117,233 shares, compared to its average volume of 420,650. EMCORE has a 52 week low of $0.78 and a 52 week high of $8.50. The company has a quick ratio of 1.85, a current ratio of 3.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $10.01 million, a P/E ratio of -0.14 and a beta of 1.51. The firm has a 50 day moving average price of $1.08 and a 200 day moving average price of $19.80.

EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.51. EMCORE had a negative return on equity of 27.56% and a negative net margin of 68.57%. The firm had revenue of $19.63 million for the quarter, compared to analyst estimates of $24.00 million. Equities research analysts forecast that EMCORE will post -0.25 earnings per share for the current fiscal year.

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.