EMCORE (NASDAQ:EMKR) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of EMCORE Co. (NASDAQ:EMKR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.32 and traded as high as $3.12. EMCORE shares last traded at $3.07, with a volume of 139,171 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EMKR shares. Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com started coverage on shares of EMCORE in a report on Saturday. They issued a “hold” rating for the company.

EMCORE Stock Performance

The company has a market cap of $27.88 million, a P/E ratio of -1.05 and a beta of 1.70. The firm’s fifty day moving average is $3.03 and its two-hundred day moving average is $2.32.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of EMCORE during the 4th quarter valued at about $39,000. Virtu Financial LLC bought a new position in shares of EMCORE during the 4th quarter valued at about $88,000. CSS LLC IL bought a new position in shares of EMCORE during the 4th quarter valued at about $164,000. Kovack Advisors Inc. boosted its holdings in shares of EMCORE by 29.7% during the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 18,250 shares during the last quarter. Finally, Gabelli Funds LLC bought a new position in shares of EMCORE during the 4th quarter valued at about $225,000. Institutional investors 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.