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

EMCORE Co. (NASDAQ:EMKR) was the recipient of a significant 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 daily volume of 121,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Investors Weigh In On EMCORE

Several large investors have recently added to or reduced their stakes in EMKR. Valeo Financial Advisors LLC grew its stake in EMCORE by 100.0% in the third quarter. Valeo Financial Advisors LLC now owns 200,000 shares of the semiconductor company’s stock valued at $95,000 after acquiring an additional 100,000 shares during the period. Perkins Capital Management Inc. lifted its holdings in EMCORE by 181.6% during the third quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock valued at $1,106,000 after purchasing an additional 1,500,000 shares during the last quarter. Herald Investment Management Ltd purchased a new stake in EMCORE during the third quarter valued at about $950,000. Manatuck Hill Partners LLC purchased a new stake in EMCORE during the third quarter valued at about $904,000. Finally, Penn Capital Management Company LLC lifted its holdings in EMCORE by 57.0% during the fourth quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock valued at $1,731,000 after purchasing an additional 1,284,624 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on EMCORE in a research report on Monday, April 8th. They set a “hold” rating for the company.

EMCORE Trading Up 3.3 %

Shares of EMKR traded up $0.09 during mid-day trading on Monday, reaching $2.82. 71,170 shares of the company were exchanged, compared to its average volume of 108,772. EMCORE has a 52 week low of $2.44 and a 52 week high of $11.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.95 and a current ratio of 3.11. The stock has a market capitalization of $21.80 million, a PE ratio of -0.25 and a beta of 1.52. The business has a 50 day simple moving average of $25.80 and a two-hundred day simple moving average of $39.79.

EMCORE (NASDAQ:EMKR) last released its earnings results on Thursday, February 8th. The semiconductor company reported ($0.40) EPS 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.

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.