EMCORE (NASDAQ:EMKR) Stock Passes Above 200 Day Moving Average – Here’s Why

EMCORE Co. (NASDAQ:EMKR)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.48 and traded as high as $2.08. EMCORE shares last traded at $2.00, with a volume of 217,572 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EMKR. StockNews.com raised EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. Craig Hallum raised EMCORE from a “hold” rating to a “buy” rating and upped their target price for the stock from $1.00 to $3.00 in a research report on Wednesday, October 2nd.

EMCORE Price Performance

The company has a fifty day moving average of $1.66 and a 200-day moving average of $1.47. The firm has a market cap of $18.14 million, a P/E ratio of -0.23 and a beta of 1.57. 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 announced its quarterly 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). EMCORE had a negative return on equity of 25.05% and a negative net margin of 81.08%. The company had revenue of $20.44 million for the quarter, compared to the consensus estimate of $20.00 million. On average, sell-side analysts anticipate that EMCORE Co. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its position in EMCORE stock. Archon Capital Management LLC raised its holdings in EMCORE Co. (NASDAQ:EMKR) by 65.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,552,577 shares of the semiconductor company’s stock after purchasing an additional 4,951,568 shares during the quarter. EMCORE accounts for 1.5% of Archon Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Archon Capital Management LLC owned approximately 162.39% of EMCORE worth $4,331,000 as of its most recent SEC filing. Institutional investors and hedge funds own 65.66% of the company’s stock.

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.