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Is Emcore Corp. (NASDAQ:EMKR), -290.0% Away From High, Poised For A Strong Comeback?

In last trading session, Emcore Corp. (NASDAQ:EMKR) saw 0.37 million shares changing hands with its beta currently measuring 1.46. Company’s recent per share price level of $0.40 trading at $0.0 or -0.15% at ring of the bell on the day assigns it a market valuation of $30.55M. That closing price of EMKR’s stock is at a discount of -290.0% from its 52-week high price of $1.56 and is indicating a premium of 2.5% from its 52-week low price of $0.39. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.22 million shares which gives us an average trading volume of 364.88K if we extend that period to 3-months.

For Emcore Corp. (EMKR), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.00. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.08 in the current quarter.

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Emcore Corp. (NASDAQ:EMKR) trade information

Upright in the red during last session for losing -0.15%, in the last five days EMKR remained trading in the red while hitting it’s week-highest on Tuesday, 11/14/23 when the stock touched $0.40 price level, adding 11.11% to its value on the day. Emcore Corp.’s shares saw a change of -58.65% in year-to-date performance and have moved -9.13% in past 5-day. Emcore Corp. (NASDAQ:EMKR) showed a performance of -10.80% in past 30-days. Number of shares sold short was 0.35 million shares which calculate 1.76 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $2.09 to the stock, which implies a rise of 80.86% to its current value. Analysts have been projecting $1.50 as a low price target for the stock while placing it at a high target of $2.50. It follows that stock’s current price would drop -525.0% in reaching the projected high whereas dropping to the targeted low would mean a loss of -275.0% for stock’s current value.

Emcore Corp. (EMKR) estimates and forecasts

Statistics highlight that Emcore Corp. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -56.27% of value to its shares in past 6 months, showing an annual growth rate of -73.53% while that of industry is -21.30. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 72.40% in the current quarter and calculating 90.90% increase in the next quarter. This year revenue growth is estimated to fall -17.10% from the last financial year’s standing.

4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $26.27 million for the same. And 4 analysts are in estimates of company making revenue of $28.99 million in the next quarter that will end on Dec 2023. Company posted $25.57 million and $26 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 2.80% while estimating it to be 11.50% for the next quarter.

In 2023, company’s earnings growth rate is likely to be around -72.83% while estimates for its earnings growth in next 5 years are of 15.00%.

EMKR Dividends

Emcore Corp. is more likely to be releasing its next quarterly report between December 18 and December 22 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Emcore Corp. (NASDAQ:EMKR)’s Major holders

Insiders are in possession of 8.22% of company’s total shares while institution are holding 52.70 percent of that, with stock having share float percentage of 57.42%. Investors also watch the number of corporate investors in a company very closely, which is 52.70% institutions for Emcore Corp. that are currently holding shares of the company. Archon Capital Management LLC is the top institutional holder at EMKR for having 7.6 million shares of worth $3.03 million. And as of Sep 29, 2023, it was holding 14.03% of the company’s outstanding shares.

The second largest institutional holder is AWM Investment Company, Inc., which was holding about 5.26 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 9.72% of outstanding shares, having a total worth of $2.09 million.

On the other hand, Vanguard Total Stock Market Index Fund and Aegis Value, Inc. are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 1.43 million shares of worth $0.57 million or 2.63% of the total outstanding shares. The later fund manager was in possession of 0.98 million shares on Sep 29, 2023, making its stake of worth around $0.39 million in the company or a holder of 1.80% of company’s stock.

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