EMCORE Co. (NASDAQ:EMKR) Short Interest Up 55.1% in April

EMCORE Co. (NASDAQ:EMKR) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 52,900 shares, an increase of 55.1% from the March 31st total of 34,100 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 121,200 shares, the days-to-cover ratio is currently 0.4 days.

EMCORE Price Performance

Shares of EMKR stock traded up $0.08 during trading hours on Monday, hitting $2.81. 71,347 shares of the company’s stock were exchanged, compared to its average volume of 108,805. EMCORE has a 12-month low of $2.44 and a 12-month high of $11.41. The company has a market capitalization of $21.72 million, a PE ratio of -0.25 and a beta of 1.52. The business’s 50 day simple moving average is $25.80 and its 200-day simple moving average is $39.79. The company has a current ratio of 3.11, a quick ratio of 1.95 and a debt-to-equity ratio of 0.10.

EMCORE (NASDAQ:EMKR) last issued its earnings results on Thursday, February 8th. The semiconductor company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.10. The firm had revenue of $24.12 million for the quarter, compared to analysts’ expectations of $27.00 million. EMCORE had a negative net margin of 67.43% and a negative return on equity of 26.76%. On average, equities research analysts anticipate that EMCORE will post -1.8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EMKR. Penn Capital Management Company LLC grew its holdings in EMCORE by 57.0% in the fourth quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 1,284,624 shares during the period. Perkins Capital Management Inc. grew its stake in shares of EMCORE by 181.6% in the third quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock worth $1,106,000 after acquiring an additional 1,500,000 shares during the last quarter. Herald Investment Management Ltd bought a new position in EMCORE in the 3rd quarter worth about $950,000. Manatuck Hill Partners LLC purchased a new stake in EMCORE during the 3rd quarter valued at about $904,000. Finally, Kovack Advisors Inc. increased its stake in EMCORE by 10.3% during the 1st quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock valued at $306,000 after purchasing an additional 83,100 shares in the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of EMCORE in a research report on Monday, April 8th. They set a “hold” rating for the company.

EMCORE Company Profile

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.