EMCORE (NASDAQ:EMKR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of EMCORE Co. (NASDAQ:EMKR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.84 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on EMCORE in a research report on Friday. They set a “hold” rating on the stock.

EMCORE Stock Up 1.0 %

The company has a market cap of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. The company has a fifty day moving average of $3.09 and a 200 day moving average of $2.84.

Institutional Investors Weigh In On EMCORE

A number of large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of EMCORE in the fourth quarter worth approximately $39,000. Virtu Financial LLC bought a new position in EMCORE in the fourth quarter worth approximately $88,000. CSS LLC IL purchased a new position in shares of EMCORE during the 4th quarter worth $164,000. Gabelli Funds LLC bought a new stake in shares of EMCORE during the 4th quarter valued at $225,000. Finally, Geode Capital Management LLC increased its stake in shares of EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares in the last quarter. 65.66% of the stock is currently owned by institutional investors.

About EMCORE

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.