EMCORE Corporation (EMKR) saw a big move in the last trading session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $4.73 to $5.11 in the past one-month time frame.
Although this slump was obviously disappointing, the company has seen 1 positive revision over the past few weeks, and its current year earnings consensus has also moved higher over the past 30 days. This suggests that the recent slump might be a temporary blip on the radar for EMKR. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
EMKR currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the Computer and Technology sector include AudioCodes Ltd. (AUDC), Baidu, Inc. (BIDU) and Flextronics International Ltd. (FLEX). All these stocks carry a Zacks Rank #1 (Strong Buy).
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