Short Interest in EMCORE Co. (NASDAQ:EMKR) Rises By 55.1%

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

EMCORE Stock Up 3.3 %

Shares of EMKR stock traded up $0.09 during mid-day trading on Monday, hitting $2.82. The stock had a trading volume of 71,170 shares, compared to its average volume of 108,772. EMCORE has a 12-month low of $2.44 and a 12-month high of $11.41. The firm has a market capitalization of $21.80 million, a P/E ratio of -0.25 and a beta of 1.52. The firm’s 50-day moving average is $25.80 and its two-hundred day moving average is $39.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.11 and a quick ratio of 1.95.

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 the consensus estimate 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 analysts’ expectations of $27.00 million. On average, analysts predict that EMCORE will post -1.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EMCORE

Hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its holdings in shares of EMCORE by 100.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 200,000 shares of the semiconductor company’s stock worth $95,000 after buying an additional 100,000 shares during the period. Kovack Advisors Inc. lifted its holdings 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 buying an additional 83,100 shares during the period. Manatuck Hill Partners LLC purchased a new stake in shares of EMCORE in the 3rd quarter worth $904,000. Herald Investment Management Ltd purchased a new stake in shares of EMCORE during the 3rd quarter worth $950,000. Finally, Perkins Capital Management Inc. lifted its stake 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 worth $1,106,000 after purchasing an additional 1,500,000 shares during the last quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on EMCORE in a research report on Monday, April 8th. They issued a “hold” rating on the stock.

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.