EMCORE Corporation (EMKR): Are Hedge Funds Right About This Stock?

Consequently, some big names have been driving this bullishness. Christopher Zepf and Brian Thonn’s Kingdom Ridge Capital established the most valuable position in EMCORE Corporation (NASDAQ:EMKR). Kingdom Ridge Capital had $1.7 million invested in the company at the end of the quarter. Peter A. Wright’s P.A.W. CAPITAL PARTNERS also initiated a $0.3 million position during the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as EMCORE Corporation (NASDAQ:EMKR) but similarly valued. We will take a look at Dipexium Pharmaceuticals Inc (NASDAQ:DPRX), Shore Bancshares, Inc. (NASDAQ:SHBI), PROVIDENT BANCORP INC (NASDAQ:PVBC), and Timmins Gold Corp (NYSEMKT:TGD). This group of stocks’ market caps are closest to EMKR’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was $29 million in EMKR’s case. Dipexium Pharmaceuticals Inc (NASDAQ:DPRX) is the most popular stock in this table. On the other hand PROVIDENT BANCORP INC (NASDAQ:PVBC) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks EMCORE Corporation (NASDAQ:EMKR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None