EMCORE Co. (NASDAQ:EMKR) Short Interest Update

EMCORE Co. (NASDAQ:EMKR) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 123,700 shares, a decrease of 59.0% from the October 15th total of 301,900 shares. Based on an average daily trading volume, of 817,200 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Craig Hallum lowered EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com raised shares of EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. raised its position in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

EMCORE Price Performance

Shares of EMKR traded down $0.06 during trading hours on Wednesday, hitting $2.95. 193,880 shares of the company were exchanged, compared to its average volume of 531,918. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. The company has a market capitalization of $26.76 million, a PE ratio of -0.34 and a beta of 1.57. The firm has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $1.46. EMCORE has a one year low of $0.78 and a one year high of $7.20.

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.