Alliance Global Partners Reaffirms “Neutral” Rating for EMCORE (NASDAQ:EMKR)

EMCORE (NASDAQ:EMKR)‘s stock had its “neutral” rating reissued by equities research analysts at Alliance Global Partners in a note issued to investors on Thursday, Benzinga reports.

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

EMCORE Stock Down 61.4 %

Shares of EMKR stock traded down $1.78 during mid-day trading on Thursday, hitting $1.12. The company’s stock had a trading volume of 4,313,218 shares, compared to its average volume of 160,891. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.95 and a current ratio of 3.11. EMCORE has a 52-week low of $1.05 and a 52-week high of $10.30. The stock has a market cap of $8.66 million, a price-to-earnings ratio of -0.10 and a beta of 1.54. The business has a 50-day moving average price of $19.39 and a 200 day moving average price of $37.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EMKR. Kovack Advisors Inc. increased its stake in shares of EMCORE by 10.3% in the 1st quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 83,100 shares in the last quarter. Manatuck Hill Partners LLC purchased a new stake in EMCORE in the third quarter worth about $904,000. Herald Investment Management Ltd bought a new position in shares of EMCORE in the third quarter worth about $950,000. Perkins Capital Management Inc. lifted its position in shares of EMCORE by 181.6% during the 3rd quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock valued at $1,106,000 after buying an additional 1,500,000 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its stake in shares of EMCORE by 57.0% during the 4th quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 1,284,624 shares during the period. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.