EMCORE Corporation (NASDAQ:EMKR) has a beta value of 1.06 and has seen 737,310 shares traded in the last trading session. The company, currently valued at $123.81 Million, closed the last trade at $4.21 per share which meant it gained $0.31 on the day or 7.95% during that session. The EMKR stock price is -0.48% off its 52-week high price of $4.23 and 65.32% above the 52-week low of $1.46. If we look at the company’s 10-day average daily trading volume, we find that it stood at 53.88 Million shares traded. The 3-month trading volume is 72.38 Million shares.
The consensus among analysts is that EMCORE Corporation (EMKR) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 3 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.04.
EMCORE Corporation (NASDAQ:EMKR) trade information
Sporting 7.95% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the EMKR stock price touched $4.23-0 or saw a rise of 0.47%. Year-to-date, EMCORE Corporation shares have moved 38.49%, while the 5-day performance has seen it change 12.87%. Over the past 30 days, the shares of EMCORE Corporation (NASDAQ:EMKR) have changed 15.66%. Short interest in the company has seen 43.39 Million shares shorted with days to cover at 0.6.
Wall Street analysts have a consensus price target for the stock at $6.2, which means that the shares’ value could jump 47.27% from current levels. The projected low price target is $6 while the price target rests at a high of $6.6. In that case, then, we find that the current price level is +56.77% off the targeted high while a plunge would see the stock lose 42.52% from current levels.
EMCORE Corporation (EMKR) estimates and forecasts
Figures show that EMCORE Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +49.29% over the past 6 months, with this year growth rate of 68.85%, compared to 33.4% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 114.8% and 150% for the next quarter. Revenue growth from the last financial year stood is estimated to be +26.2%.
3 analysts offering their estimates for the company have set an average revenue estimate of $33.5 Million for the current quarter. 3 have an estimated revenue figure of $31.97 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $24.3 Million and $26Million respectively for this quarter and the next, and analysts expect sales will grow by 37.9% for the current quarter and 23% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -63.6% over the past 5 years. Earnings growth for 2020 is a modest -95.3% while over the next 5 years, the company’s earnings are expected to increase by 15%.
EMCORE Corporation (NASDAQ:EMKR)’s Major holders
Insiders own 11.21% of the company shares, while shares held by institutions stand at 61.16% with a share float percentage of 68.89%. Investors are also buoyed by the number of investors in a company, with EMCORE Corporation having a total of 67 institutions that hold shares in the company. The top two institutional holders are Cannell Capital LLC with over 2.78 Million shares worth more than $9.05 Million. As of September 29, 2020, Cannell Capital LLC held 9.47% of shares outstanding.
The other major institutional holder is Solas Capital Management, LLC, with the holding of over 2.17 Million shares as of September 29, 2020. The firm’s total holdings are worth over $7.06 Million and represent 7.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Needham Small Cap Growth Fund and Vanguard Total Stock Market Index Fund. As of September 29, 2020, the former fund manager holds about 4.71% shares in the company for having 1385000 shares of worth $4.5 Million while later fund manager owns 776.63 Thousand shares of worth $2.47 Million as of June 29, 2020, which makes it owner of about 2.64% of company’s outstanding stock.