The stock of Emcore Corp. (NASDAQ: EMKR) has decreased by -60.69 when compared to last closing price of 2.90.Despite this, the company has seen a loss of -55.64% in its stock price over the last five trading days. InvestorPlace reported 2024-05-09 that Emcore (NASDAQ: EMKR ) stock is falling hard on Thursday following the release of the navigation system and inertial sensing products company’s fiscal Q2 2024 earnings report. That comes alongside revenue of $19.6 million for the quarter.
Is It Worth Investing in Emcore Corp. (NASDAQ: EMKR) Right Now?
The 36-month beta value for EMKR is at 1.58. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for EMKR is 6.50M, and currently, shorts hold a 0.81% of that float. The average trading volume for EMKR on May 09, 2024 was 136.19K shares.
EMKR’s Market Performance
EMKR’s stock has seen a -55.64% decrease for the week, with a -60.55% drop in the past month and a -81.87% fall in the past quarter. The volatility ratio for the week is 8.95%, and the volatility levels for the past 30 days are at 9.34% for Emcore Corp. The simple moving average for the past 20 days is -58.98% for EMKR’s stock, with a -75.65% simple moving average for the past 200 days.
Analysts’ Opinion of EMKR
Lake Street, on the other hand, stated in their research note that they expect to see EMKR reach a price target of $4.50, previously predicting the price at $11. The rating they have provided for EMKR stocks is “Hold” according to the report published on February 10th, 2022.
Cowen gave a rating of “Outperform” to EMKR, setting the target price at $16 in the report published on May 26th of the previous year.
EMKR Trading at -66.09% from the 50-Day Moving Average
After a stumble in the market that brought EMKR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -88.93% of loss for the given period.
Volatility was left at 9.34%, however, over the last 30 days, the volatility rate increased by 8.95%, as shares sank -58.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -72.02% lower at present.
During the last 5 trading sessions, EMKR fell by -54.28%, which changed the moving average for the period of 200-days by -82.80% in comparison to the 20-day moving average, which settled at $2.70. In addition, Emcore Corp. saw -76.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EMKR starting from Archon Capital Management LLC, who purchase 2,453,898 shares at the price of $0.39 back on Feb 15 ’24. After this action, Archon Capital Management LLC now owns 12,552,577 shares of Emcore Corp., valued at $944,751 using the latest closing price.
Archon Capital Management LLC, the 10% Owner of Emcore Corp., purchase 2,397,670 shares at $0.34 during a trade that took place back on Feb 14 ’24, which means that Archon Capital Management LLC is holding 10,098,679 shares at $803,219 based on the most recent closing price.
Stock Fundamentals for EMKR
Current profitability levels for the company are sitting at:
- -0.53 for the present operating margin
- 0.19 for the gross margin
The net margin for Emcore Corp. stands at -0.67. The total capital return value is set at -0.51. Equity return is now at value -60.02, with -34.89 for asset returns.
Based on Emcore Corp. (EMKR), the company’s capital structure generated 0.3 points at debt to capital in total, while cash flow to debt ratio is standing at -0.91. The debt to equity ratio resting at 0.42. The interest coverage ratio of the stock is -346.79.
Currently, EBITDA for the company is -5.75 million with net debt to EBITDA at -2.28. When we switch over and look at the enterprise to sales, we see a ratio of 0.32. The receivables turnover for the company is 4.31for trailing twelve months and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.11.
Conclusion
In conclusion, Emcore Corp. (EMKR) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
