Short Interest in EMCORE Co. (NASDAQ:EMKR) Increases By 329.4%

by · The Cerbat Gem

EMCORE Co. (NASDAQ:EMKR – Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 301,900 shares, an increase of 329.4% from the September 30th total of 70,300 shares. Based on an average daily volume of 738,400 shares, the short-interest ratio is presently 0.4 days. Currently, 4.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

EMKR has been the subject of several analyst reports. Craig Hallum upgraded shares of EMCORE from a “hold” rating to a “buy” rating and boosted their target price for the company from $1.00 to $3.00 in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, September 16th.

Check Out Our Latest Report on EMCORE

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. increased its position in shares of EMCORE Co. (NASDAQ:EMKR – Free Report) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 887,400 shares of the semiconductor company’s stock after buying an additional 83,100 shares during the quarter. Kovack Advisors Inc. owned about 11.48% of EMCORE worth $306,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 65.66% of the company’s stock.

EMCORE Price Performance

EMKR traded up $0.02 on Friday, reaching $2.15. 95,817 shares of the company’s stock were exchanged, compared to its average volume of 522,308. The stock has a market cap of $17.77 million, a PE ratio of -0.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. EMCORE has a twelve month low of $0.78 and a twelve month high of $7.20. The stock’s fifty day moving average price is $1.54 and its 200-day moving average price is $1.51.

EMCORE (NASDAQ:EMKR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.30). The company had revenue of $20.44 million during the quarter, compared to analyst estimates of $20.00 million. EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. Sell-side analysts expect that EMCORE will post -0.25 EPS for the current year.

About EMCORE

(Get Free Report)

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.

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