EMCORE (NASDAQ:EMKR) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

EMCORE Co. (NASDAQ:EMKR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.07 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on shares of EMCORE in a research report on Wednesday, May 21st. They issued a “hold” rating for the company.

EMCORE Stock Up 1.0%

The stock has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The company’s 50-day moving average is $3.10 and its 200-day moving average is $3.07.

Institutional Trading of EMCORE

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of EMCORE during the fourth quarter worth approximately $88,000. CSS LLC IL acquired a new stake in shares of EMCORE during the fourth quarter worth approximately $164,000. Gabelli Funds LLC bought a new stake in shares of EMCORE during the fourth quarter valued at approximately $225,000. Geode Capital Management LLC grew its stake in shares of EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 11,985 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

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.