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

EMCORE Co. (NASDAQ:EMKR) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.11 and traded as high as $3.07. EMCORE shares last traded at $3.06, with a volume of 53,502 shares traded.

Analyst Upgrades and Downgrades

EMKR has been the topic of several research reports. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com initiated coverage on shares of EMCORE in a research report on Wednesday. They issued a “hold” rating on the stock.

EMCORE Stock Down 0.3 %

The firm’s 50 day simple moving average is $3.00 and its 200 day simple moving average is $2.11. The company has a market capitalization of $27.78 million, a PE ratio of -1.05 and a beta of 1.69.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in EMCORE stock. Newbridge Financial Services Group Inc. acquired a new position in shares of EMCORE Co. (NASDAQ:EMKR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000. Newbridge Financial Services Group Inc. owned 0.14% of EMCORE as of its most recent SEC filing. 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.