EMCORE Corporation advances 6.8% on robust volume, ending a three-day streak of losses

EMCORE Corporation (EMKR.O), NASDAQ’s 22nd largest electrical manufacturing company by market capitalisation, advanced 28.0c (or 6.8%) to close at US$4.37, ending a three-day streak of losses. Compared with the NASDAQ-100 index, which fell 2.0 points (or 0.1%) on the day, this was a relative price change of 6.9%. The aggregate volume was 2.6 times average trading of 245,110 shares. Volatility: the stock traded between an intraday low of US$4.10 and four-day high of US$4.40. The price range has expanded in the last two days (from 20.0c two days ago to 30.0c today) which, accompanied by a price rise, is a bullish signal. The average daily volatility of 7.6% places the stock in the 1st quartile in the market meaning it is highly volatile.Premium to low: the last price is at a premium of 33.2% to the 12-month low of US$3.28 three months ago on 19 Dec, 2011.Volume weighted price (VWP): the price is at a discount of 3.3% to the 1-month volume weighted average price of US$4.52, which may appeal as a value proposition.Beta: The Beta of this stock is 2.4. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.Standard Deviation (SD): SD is a statistical measure of deviation from the mean. The SD of 5.2% gives it a percentile rank of 88 meaning that 88% of stocks in the NASDAQ market are less volatile than this stock.Trailing month: in the 20 trading sessions there has been a net decline of 26.31%; the stock has retreated thirteen times and the biggest one day decline was 10.1% on Feb 17. Trailing one week: the stock fell three times (60% of the time) and rose twice (40% of the time). The aggregate volume was 1.5 times average trading of 1,225,550 shares. The value of US$1,000 invested a week ago is US$1,095 [vs US$1,026 for the NASDAQ-100 index], for a capital gain of US$95(or rise of 9.5%).Trailing one month: the stock fell thirteen times (65% of the time) and rose seven times (35% of the time). The aggregate volume was 1.3 times average trading of 5,392,420 shares. The value of US$1,000 invested a month ago is US$867 [vs US$1,048 for the NASDAQ-100 index], for a capital loss of US$133(or loss of 13.3%).Trailing one year: the value of US$1,000 invested one year ago is US$490 [vs US$1,231 for the NASDAQ-100 index], for a capital loss of US$510. The total return to shareholders for 1 year is -51.0%.Trailing five years: the value of US$1,000 invested five years ago is US$231, for a capital loss of US$769. Quarterly Report; year-on-year comparisons with previous corresponding period:In the quarter to December 31, 2011 total revenue was down 28.1% to US$37.5 million; net loss of US$14.2 million.Annual Report for the year ended September 30, 2011 (year-on-year comparisons with previous corresponding period)-Favourable Changes: total revenue up 6.3% to $US201.7m; EPS continued to be negative like in the previous year; however, there was an improvement from $US-1.12 in the previous year to -38.0 U.S. cents; total revenue to total assets up 11.0% to 1.2.Unfavourable Changes: loss of $US34.2m; losses in all of the last 4 years; total liabilities to total assets up 16.7% to 0.4; current ratio down 12.3% to 1.4; Net tangible assets per share down 21.4% to $US0.88; operating cash flow is negative; Working capital to total assets down 27.3% to 14.3%.Major Common Size Ratios: total current assets to total assets down from 55.5% to 53.6%; fixed assets to total assets up from 26.4% to 27.5%; current debtors to total assets down from 22.6% to 20.5%; current inventory to total assets up from 18.0% to 19.5%; intangibles to total assets up from 11.5% to 12.0%; cost of goods sold to sales up from 74.1% to 78.4%; sales and marketing expenses to sales down from 22.4% to 17.6%; interest expenses to sales up from 0.2% to 0.3%.