EMCORE Co. (NASDAQ:EMKR) Short Interest Up 105.3% in December

EMCORE Co. (NASDAQ:EMKR) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 146,000 shares, a growth of 105.3% from the November 30th total of 71,100 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 849,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. boosted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the period. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 as of its most recent filing with the SEC. 65.66% of the stock is currently owned by institutional investors and hedge funds.

EMCORE Stock Down 1.0 %

NASDAQ EMKR traded down $0.03 during trading hours on Friday, reaching $3.03. 103,297 shares of the company’s stock were exchanged, compared to its average volume of 488,879. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. EMCORE has a one year low of $0.78 and a one year high of $7.20. The company’s 50-day moving average is $2.75 and its two-hundred day moving average is $1.81. The company has a market capitalization of $27.47 million, a price-to-earnings ratio of -0.35 and a beta of 1.70.

Wall Street Analyst Weigh In

EMKR has been the subject of a number of recent analyst reports. Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. StockNews.com initiated coverage on shares of EMCORE in a research report on Saturday. They set a “hold” rating on the 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.