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Emcore Corp. (NASDAQ: EMKR) Disappoints Wall Street With 6.68% Stock Price Gain

In the latest trading session, 1.42 million Emcore Corp. (NASDAQ:EMKR) shares changed hands as the company’s beta touched 1.56. With the company’s most recent per share price at $0.41 changing hands around $0.03 or 6.68% at last look, the market valuation stands at $31.50M. EMKR’s current price is a discount, trading about -263.41% off its 52-week high of $1.49. The share price had its 52-week low at $0.36, which suggests the last value was 12.2% up since then. When we look at Emcore Corp.’s average trading volume, we note the 10-day average is 1.23 million shares, with the 3-month average coming to 10.17.

Emcore Corp. (NASDAQ:EMKR) trade information

Instantly EMKR is in green as seen in intraday trades today. With action -37.39%, the performance over the past five days has been red. The jump to weekly highs of 0.6890 added 6.68% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.67%, with the 5-day performance at -37.39% in the red. However, in the 30-day time frame, Emcore Corp. (NASDAQ:EMKR) is -18.50% down. Looking at the short shares, we see there were 0.53 million shares sold at short interest cover period of 0.9 days.

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Emcore Corp. (EMKR) estimates and forecasts

Data shows that the Emcore Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -45.67% over the past 6 months, a 90.91% in annual growth rate that is considerably higher than the industry average of -5.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Emcore Corp. will rise 83.30%, while the growth in revenue is estimated to hit 84.60% for the next quarter. Year-over-year growth is forecast to reach 4.00% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $23.86 million. 3 analysts are of the opinion that Emcore Corp.’s revenue for the quarter ending Jun 2024 will be $26.21 million.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -20.84%. The 2024 estimates are for Emcore Corp. earnings to increase by 91.15%, but the outlook for the next 5-year period is at 15.00% per year.

EMKR Dividends

Emcore Corp. is expected to release its next quarterly earnings report between May 02 and May 06.

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

If we look at who the major shareholders are, we find that insiders hold 10.94% of Emcore Corp. shares while 47.53% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.37%. There are 47.53% institutions holding the Emcore Corp. stock share, with AWM Investment Company, Inc. the top institutional holder. As of Jun 29, 2023, the company held 9.72% of the shares, roughly 5.26 million EMKR shares worth $3.96 million.

Neuberger Berman Group, LLC holds the second largest percentage of outstanding shares, with 4.58% or 2.48 million shares worth $1.87 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Aegis Value, Inc. With 1.43 million shares estimated at $1.07 million under it, the former controlled 2.63% of total outstanding shares. On the other hand, Aegis Value, Inc. held about 1.80% of the shares, roughly 0.98 million shares worth around $0.73 million.

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