Posted by admin on Aug 21st, 2022
TheStreet lowered shares of EMCORE (NASDAQ:EMKR – Get Rating) from a c rating to a d rating in a report published on Thursday morning, TheStreetRatingsTable reports.
Several other research analysts have also issued reports on the company. Northland Securities lowered EMCORE from an outperform rating to a market perform rating in a research report on Wednesday, August 10th. StockNews.com lowered EMCORE from a hold rating to a sell rating in a report on Friday, August 12th.
EMKR opened at $2.59 on Thursday. The stock has a fifty day moving average price of $3.15 and a 200-day moving average price of $3.50. EMCORE has a 12 month low of $2.45 and a 12 month high of $8.73. The firm has a market cap of $97.25 million, a price-to-earnings ratio of -37.00 and a beta of 1.25.
A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd increased its holdings in shares of EMCORE by 34.9% in the first quarter. XTX Topco Ltd now owns 13,853 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 3,583 shares during the last quarter. Sei Investments Co. boosted its position in shares of EMCORE by 36.1% during the first quarter. Sei Investments Co. now owns 13,657 shares of the semiconductor company’s stock worth $28,000 after buying an additional 3,623 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of EMCORE by 16.1% during the first quarter. BNP Paribas Arbitrage SA now owns 26,615 shares of the semiconductor company’s stock worth $98,000 after buying an additional 3,688 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of EMCORE by 25.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,515 shares of the semiconductor company’s stock worth $87,000 after buying an additional 4,750 shares during the period. Finally, Covestor Ltd purchased a new position in shares of EMCORE during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in the United States, Canada, Asia, Europe, and internationally. It operates in two segments, Aerospace and Defense, and Broadband. The company offers navigation system and inertial sensing products, such as fiber optic gyros products that includes gyroscopes, inertial measurement units (IMU), and inertial navigation systems (INS), as well as QMEMS gyroscopes, accelerometers, IMUs, and INS products primarily for the aerospace and defense markets; and defense optoelectronics comprising optiva platform fiber optic transport systems and erbium doped fiber amplifiers, as well as ruggedized microwave flange-mount transmitters, receivers, and optical delay line products.
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