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

EMCORE Co. (NASDAQ:EMKR)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.58 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of EMCORE in a report on Tuesday. They issued a “hold” rating on the stock.

EMCORE Stock Up 1.0 %

The company has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. The stock’s fifty day moving average price is $3.06 and its two-hundred day moving average price is $2.59.

Institutional Investors Weigh In On EMCORE

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

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.