EMCORE (NASDAQ:EMKR) Downgraded to “Sell” at StockNews.com

EMCORE (NASDAQ:EMKR) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other equities research analysts have also recently commented on EMKR. Alliance Global Partners reaffirmed a “neutral” rating on shares of EMCORE in a report on Thursday, May 9th. Northland Capmk cut EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th.

EMCORE Stock Down 7.1 %

NASDAQ:EMKR traded down $0.09 during midday trading on Thursday, hitting $1.17. 167,503 shares of the company were exchanged, compared to its average volume of 416,128. The company has a current ratio of 3.27, a quick ratio of 1.85 and a debt-to-equity ratio of 0.11. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $8.50. The company has a market capitalization of $9.67 million, a PE ratio of -0.13 and a beta of 1.51. The company has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $19.29.

EMCORE (NASDAQ:EMKR) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.51. EMCORE had a negative return on equity of 27.56% and a negative net margin of 68.57%. The firm had revenue of $19.63 million during the quarter, compared to analysts’ expectations of $24.00 million. As a group, equities analysts anticipate that EMCORE will post -0.25 earnings per share for the current fiscal year.

Insider Activity at EMCORE

In other EMCORE news, major shareholder Archon Capital Management Llc sold 1,255,258 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1.12, for a total value of $1,405,888.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Archon Capital Management LLC increased its position in shares of EMCORE Co. (NASDAQ:EMKR) by 65.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 biggest holding. Archon Capital Management LLC owned approximately 162.39% of EMCORE worth $4,331,000 at the end of the most recent quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

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.