Awm Investment Company, Inc. Sells 140,489 Shares of EMCORE Co. (NASDAQ:EMKR) Stock

Posted by Adam Dyson on May 26th, 2023

EMCORE Co. (NASDAQ:EMKR – Get Rating) major shareholder Awm Investment Company, Inc. sold 140,489 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $0.88, for a total value of $123,630.32. Following the transaction, the insider now directly owns 6,399,499 shares in the company, valued at approximately $5,631,559.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Awm Investment Company, Inc. also recently made the following trade(s):

On Thursday, May 25th, Awm Investment Company, Inc. sold 100,000 shares of EMCORE stock. The shares were sold at an average price of $0.82, for a total value of $82,000.00.

EMCORE Stock Performance

EMKR opened at $0.81 on Friday. The stock’s 50-day moving average price is $1.05 and its 200 day moving average price is $1.20. EMCORE Co. has a 12-month low of $0.78 and a 12-month high of $3.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.98 and a quick ratio of 1.80.

Hedge Funds Weigh In On EMCORE

Several hedge funds have recently bought and sold shares of the company. AMH Equity Ltd purchased a new stake in EMCORE during the 4th quarter worth about $578,000. Tudor Investment Corp Et Al increased its holdings in EMCORE by 245.1% during the 3rd quarter. Tudor Investment Corp Et Al now owns 77,791 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 55,248 shares during the period. Koss Olinger Consulting LLC increased its holdings in EMCORE by 58.7% during the 3rd quarter. Koss Olinger Consulting LLC now owns 58,266 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 21,550 shares during the period. Kovack Advisors Inc. purchased a new stake in EMCORE during the 3rd quarter worth about $1,194,000. Finally, Walleye Trading LLC purchased a new stake in EMCORE during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com assumed coverage on EMCORE in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Northland Securities raised EMCORE from a “market perform” rating to an “outperform” rating and set a $2.50 price target on the stock in a research note on Thursday, February 9th. Alliance Global Partners assumed coverage on EMCORE in a research note on Tuesday, March 28th. They issued a “buy” rating and a $2.50 price target on the stock. Finally, Lake Street Capital raised EMCORE from a “hold” rating to a “buy” rating and decreased their price target for the company from $3.50 to $2.50 in a research note on Thursday, February 9th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2.50.

About EMCORE

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EMCORE Corp. engages in the manufacture and provision of mixed-signal optics products. It operates through the Aerospace and Defense segment and Broadband segment. The Aerospace and Defense segment produces navigation and inertial sensing products, and defense optoelectronics. The Broadband segment manufactures community antenna television (CATV) lasers and transmitters, chip devices, and other optical products.