EMCORE Corporation (NASDAQ:EMKR) saw an upside of 9.82% to $0.74 after adding $0.07 on Wednesday. The 5-day average trading volume is 340,102 shares of the company’s common stock. It has gained $0.7550 in the past week and touched a new high 2 times within the past 5 days. An average of 353,881 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 314,170.
EMKR’s 1-month performance is -10.98% or -$0.0987 on its low of $0.6310 reached on 08/08/23. The company’s shares have touched a 52-week low of $0.63 and high of $3.27, with the stock’s rally to the 52-week high happening on 03/02/23. YTD, EMKR has lost -23.12% or -$0.2305 and has reached a new high 15 times. However, the current price is down -77.37% from the 52-week high price.
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Insider Transactions
EMKR stock investors last saw insider trading activity on Jun 20.AWM Investment Company, Inc. (10% Owner) most recently sold 133,667 shares at $0.70 per share on Jun 20. This transaction cost the insider $93,353. 10% Owner, AWM Investment Company, Inc., sold 235,000 shares at a price of $0.69 on Jun 16. Then, on Jun 15, 10% Owner AWM Investment Company, Inc. sold 300,000 shares at a price of $0.67 per share. This transaction amounted to $199,890.
Valuation Metrics
EMKR stock has a beta of 1.34. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.42 while the price-to-book (PB) in the most recent quarter is 0.29.
EMCORE Corporation’s quick ratio for the recent period was 1.80, with the current ratio over the same period at 3.00. In terms of profitability, the gross margin trailing 12 months is 11.60%. The trailing 12-month EBITDA margin is -14.30%. The firm’s gross profit as reported stood at $29.72 million against revenue of $124.13 million.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 143.46% to -$11.69 million, while revenue of -$7.65 million was 34.56% off the previous quarter. EBITDA for the quarter stood at more than -$10.42 million. EMKR stock balance sheet for the recent quarter shows that total liabilities totaled 74.47 million, with total debt at $40.1 million. Shareholders hold equity totaling $53.93 million.
Let’s look briefly at EMCORE Corporation (EMKR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 55.99% to suggest the stock is trending Neutral, with historical volatility in this time period at 62.28%.
The stock’s 5-day moving average is $0.6802, reflecting a +7.28% or $0.0497 change from its current price. EMKR is currently trading -19.55% above its 20-day SMA, -35.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.32% and SMA200 by-51.84%.
Stochastic %K and %D was 34.86% and 18.32% and the average true range (ATR) pointed at 0.0555. The RSI (14) points at 51.07%, while the 14-day stochastic is at 73.51% with the period’s ATR at 0.0560. The stock’s 9-day MACD Oscillator is pointing at 0.0047 and 0.0029 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for EMCORE Corporation (NASDAQ: EMKR), Northland Capital downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for EMKR stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate EMKR as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is EMKR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.50 and a high of $3.00, with their median price target at $2.50. Looking at these predictions, the average price target given by analysts is for EMCORE Corporation (EMKR) stock is $2.63.
