EMCORE Co. (EMKR) Short Interest Up 144.8% in February
EMCORE Co. (NASDAQ:EMKR) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,301,496 shares, an increase of 144.8% from the January 31st total of 531,683 shares. Based on an average daily trading volume, of 418,680 shares, the days-to-cover ratio is presently 3.1 days. Approximately 5.4% of the company’s shares are sold short.
In other EMCORE news, CEO Jeffrey Rittichier sold 49,422 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $7.05, for a total transaction of $348,425.10. Following the completion of the transaction, the chief executive officer now owns 366,007 shares of the company’s stock, valued at $2,580,349.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.99% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC acquired a new stake in shares of EMCORE during the second quarter worth about $112,000. Highbridge Capital Management LLC lifted its position in shares of EMCORE by 130.9% during the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 14,499 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of EMCORE during the fourth quarter worth about $125,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of EMCORE during the third quarter worth about $151,000. Finally, Cavalier Investments LLC acquired a new stake in shares of EMCORE during the third quarter worth about $164,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.
EMCORE (EMKR) opened at $5.15 on Friday. The firm has a market cap of $138.72, a PE ratio of 21.46, a price-to-earnings-growth ratio of 42.50 and a beta of 0.37. EMCORE has a 12 month low of $4.90 and a 12 month high of $12.20.
EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03). The business had revenue of $24.04 million for the quarter, compared to analyst estimates of $24.75 million. EMCORE had a return on equity of 6.59% and a net margin of 5.48%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. analysts predict that EMCORE will post 0.01 earnings per share for the current fiscal year.
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
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