Emcore Corp. [EMKR] Is Currently 0.89 above its 200 Period Moving Avg: What Does This Mean?

Emcore Corp. [NASDAQ: EMKR] closed the trading session at $0.36. The company report on February 8, 2024 at 4:01 PM that EMCORE Reports Fiscal 2024 First Quarter Results.

For 1Q24, EMCORE’s consolidated revenue was $24.1 million. Net loss on continuing operations was $4.4 million and $2.6 million on a GAAP and non-GAAP basis, respectively. Adjusted EBITDA was negative $1.7 million. Please refer to the schedules at the end of this press release for GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures.

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The stocks have a year to date performance of -25.97 percent and weekly performance of -42.54 percent. The stock has been moved at -49.54 percent over the last six months. The stock has performed -35.08 percent around the most recent 30 days and changed -15.81 percent over the most recent 3-months.

If compared to the average trading volume of 692.89K shares, EMKR reached to a volume of 4547390 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Emcore Corp. [EMKR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EMKR shares is $1.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EMKR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for Emcore Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 10, 2022.

The Average True Range (ATR) for Emcore Corp. is set at 0.07, with the Price to Sales ratio for EMKR stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 0.27.

EMKR stock trade performance evaluation

Emcore Corp. [EMKR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -42.54. With this latest performance, EMKR shares dropped by -35.08% in over the last four-week period, additionally sinking by -49.54% over the last 6 months – not to mention a drop of -73.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EMKR stock in for the last two-week period is set at 30.57, with the RSI for the last a single of trading hit 22.45, and the three-weeks RSI is set at 35.99 for Emcore Corp. [EMKR]. The present Moving Average for the last 50 days of trading for this stock 0.5044, while it was recorded at 0.4233 for the last single week of trading, and 0.6056 for the last 200 days.

Emcore Corp. [EMKR]: An insightful look at the core fundamentals

Emcore Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.95 and a Current Ratio set at 3.11.

Earnings per share (EPS) analysis for Emcore Corp. [EMKR] stock

With the latest financial reports released by the company, Emcore Corp. posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EMKR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Emcore Corp. go to 15.00%.

Emcore Corp. [EMKR]: Institutional Ownership

The top three institutional holders of EMKR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EMKR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EMKR stock with ownership which is approximately 5.8325%.