EMCORE Co. (NASDAQ:EMKR) Short Interest Update

by · The Markets Daily

EMCORE Co. (NASDAQ:EMKR – Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 70,300 shares, a growth of 62.4% from the September 15th total of 43,300 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 790,600 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Several equities analysts have issued reports on EMKR shares. StockNews.com upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Craig Hallum upgraded shares of EMCORE from a “hold” rating to a “buy” rating and upped their price objective for the company from $1.00 to $3.00 in a research note on Wednesday, October 2nd.

View Our Latest Stock Analysis on EMKR

EMCORE Stock Performance

Shares of EMKR traded up $0.03 during mid-day trading on Monday, hitting $2.32. 158,607 shares of the company’s stock were exchanged, compared to its average volume of 537,761. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20. The firm has a market capitalization of $19.18 million, a P/E ratio of -0.26 and a beta of 1.56. The business’s 50 day moving average is $1.30 and its two-hundred day moving average is $2.22. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14.

EMCORE (NASDAQ:EMKR – Get Free Report) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share 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 business had revenue of $20.44 million for the quarter, compared to analyst estimates of $20.00 million. On average, equities analysts expect that EMCORE will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. raised its stake in EMCORE Co. (NASDAQ:EMKR – Free Report) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 887,400 shares of the semiconductor company’s stock after buying an additional 83,100 shares during the period. Kovack Advisors Inc. owned approximately 11.48% of EMCORE worth $306,000 at the end of the most recent reporting period. 65.66% of the stock is owned by hedge funds and other institutional investors.

EMCORE Company Profile

(Get Free Report)

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.

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