Short traders are more bearish on Emcore Corp of late if you look at the increase in short interest. The company recorded a rise in short interest of 18.12% as of the latest report on October 13, 2017. Short interest increased 125,968 over that period. The days to cover decreased to 3.0 and the percentage of shorted shares was 0.03% on October 13.
Here is a rundown on some insider market activity for Emcore Corp (NASDAQ:EMKR). Jeffrey Rittichier, CEO let go of $77,647 worth of shares at an average price of $8.45 on Thu the 19th. That brings the CEO’s holdings to $2,360,220 as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in EMKR. As of quarter end Marshall Wace North America L.p. had acquired a total of 46,700 shares growing its holdings by 114.6%. The value of the company’s investment in Emcore Corp went from $367,000 to $700,000 increasing 90.7% quarter to quarter. As of the end of the quarter Millennium Management LLC had bought 230,006 shares growing its position 109.1%. The value in dollars increased from $2,245,000 to $3,615,000 a change of $1,370,000 for the reporting period.
As of quarter end Renaissance Technologies LLC had acquired a total of 64,000 shares growing its stake by 8.0%. The value of the total investment in Emcore Corp decreased from $8,511,000 to $7,078,000 a change of 16.8% quarter over quarter. Rk Capital Management, LLC added to its holdings by buying 77,741 shares an increase of 7.5% in the quarter. Rk Capital Management, LLC controls 1,115,679 shares with a value of $9,149,000. The value of the position overall is down by 17.2%.
On October 16, 2017 Northland Securities released research on EMKR and giving a rating of “Buy” and a price target of $13.00. September 12 investment analysts at Northland Securities made no change to the stock rating of “Buy” targeting a price of $13.00.
The company is up from yesterday’s close of 7.35. The most current P/E ratio is 27.01 and market capitalization is 205.63M. In the last earnings report the EPS was $0.28 with 26.88M shares outstanding.
EMCORE Corporation, incorporated in 1986, is involved 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. The Company provides optical components, and also end-to-end solutions for high-speed communications network infrastructures. The Business’s optical technologies are designed for cable television (CATV) and fiber-to-the-premise (FTTP) networks, telecommunications and data centers, satellite communications, aerospace and defense, wireless networks, and broadcast and professional audio/video systems. The Company has manufacturing facilities located in Alhambra, California; Ivyland, Pennsylvania; Beijing, China, and Langfang, China..