As of Thursday close, EMCORE Corporation’s (NASDAQ:EMKR) stock was down -$0.28, moving down -37.31 percent to $0.48. The average number of shares traded per day over the past five days has been 1,595,720 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.2642 fall in that time frame. In the last twenty days, the average volume was 727,775, while in the previous 50 days, it was 477,638.
Since last month, EMKR stock retreated -39.77%. Shares of the company fell to $0.4316 on 08/17/23, the lowest level in the past month. A 52-week high of $2.78 was reached on 03/02/23 after having rallying from a 52-week low of $0.63. Since the beginning of this year, EMKR’s stock price has dropped by -50.57% or -$0.4867, and marked a new high 15 times. However, the stock has declined by -82.88% since its 52-week high.
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Sponsored
EMKR stock investors should be aware that EMCORE Corporation (EMKR) stock had its last reported insider trading activity 59 days ago on Jun 20. AWM Investment Company, Inc., the 10% Owner of the company, disposed of 133,667 shares for $0.70 on Jun 20. It resulted in a $93,353 divestment by the insider. AWM Investment Company, Inc. sold 235,000 shares at an average price of $0.69 on Jun 16. The insider now owns 5,395,963 shares following the transaction. On Jun 15, 10% Owner AWM Investment Company, Inc. sold 300,000 shares at $0.67 apiece. The transaction was valued at $199,890.
Valuation Metrics
The stock’s beta is 1.29. Besides these, the trailing price-to-sales (P/S) ratio of 0.25, the price-to-book (PB) ratio of 0.19.
Financial Health
In the three months ended June 29, EMCORE Corporation’s quick ratio stood at 1.80, while its current ratio was 3.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.10, and the total debt-to-equity ratio was 0.11. On the profitability front, the trailing twelve-month gross margin is 11.60% percent. In the year ended June 29, EBITDA margin amounted to -14.30%, whereas operating margins totaled -37.70%. Based on annual data, EMKR earned $29.72 million in gross profit and brought in $124.13 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -17.90%. Return on equity (ROE) for the past 12 months was -32.40%.
In EMCORE Corporation’s quarter-end financial report for June 29, it reported total debt of $6.49 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EMKR’s revenue fell -59.4% to $24.95 million during the quarter, while net income inched up to $26.5 million. While analysts expected EMCORE Corporation to report -$0.13 quarterly earnings, the actual figure was -$0.13 per share. During the quarter, the company generated -$7.13 million in EBITDA. The liabilities of EMCORE Corporation were 66.67 million at the end of its most recent quarter ended June 29, and its total debt was $39.22 million.
Technical Picture
This quick technical analysis looks at EMCORE Corporation’s (EMKR) price momentum. With a historical volatility rate of 269.96%, the RSI 9-day stood at 27.88% on 17 August.
With respect to its five-day moving average, the current EMCORE Corporation price is down by -35.70% percent or -$0.2642. At present, EMKR shares trade -36.33% below its 20-day simple moving average and -57.52% percent below its 100-day simple moving average. However, the stock is currently trading approximately -36.21% below its SMA50 and -69.30% below its SMA200.
Stochastic coefficient K was 36.15% and Stochastic coefficient D was 42.77%, while ATR was 0.0951. Given the Stochastic reading of 10.56% for the 14-day period, the RSI (14) reading has been calculated as 32.16%. As of today, the MACD Oscillator reading stands at -0.0492, while the 14-day reading stands at -0.0400.
Analyst Ratings
EMCORE Corporation downgraded its rating on EMCORE Corporation (NASDAQ: EMKR) to a Market perform in a note to investors on August 10, 2022. The analysts firm previously had an Outperform rating on the stock.EMCORE Corporation (EMKR) has been rated Buy by analysts. According to 0 brokerage firms, EMKR is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate EMCORE Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $2.50, the current consensus forecast for the stock is $1.85 – $3.00. Based on these forecasts, analysts predict EMCORE Corporation (EMKR) will achieve an average price target of $2.46.
