eMagin (NYSE:EMA) Cut to “Strong Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of eMagin (NYSE:EMA – Free Report) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

EMA has been the topic of a number of other research reports. Barclays lowered their target price on shares of eMagin from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Weiss Ratings raised eMagin from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, eMagin has a consensus rating of “Hold” and a consensus price target of $50.00.

Read Our Latest Report on eMagin

eMagin Price Performance

EMA stock opened at $49.97 on Friday. The business’s 50-day moving average is $48.55 and its two-hundred day moving average is $51.13. eMagin has a fifty-two week low of $45.27 and a fifty-two week high of $55.49.

eMagin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of C$0.74 per share. This is a boost from eMagin’s previous quarterly dividend of C$0.73. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.96 annualized dividend and a dividend yield of 5.9%.

Institutional Investors Weigh In On eMagin

A number of hedge funds have recently made changes to their positions in EMA. Rathbones Group PLC raised its stake in eMagin by 0.3% during the first quarter. Rathbones Group PLC now owns 58,900 shares of the company’s stock valued at $3,043,000 after purchasing an additional 200 shares in the last quarter. Parallel Advisors LLC lifted its position in eMagin by 130.9% during the first quarter. Parallel Advisors LLC now owns 508 shares of the company’s stock valued at $26,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of eMagin by 54.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the company’s stock worth $57,000 after buying an additional 385 shares in the last quarter. Gold Investment Management Ltd. bought a new stake in shares of eMagin in the 3rd quarter worth about $27,000. Finally, Mather Group LLC. bought a new stake in shares of eMagin in the 3rd quarter worth about $38,000.

eMagin Company Profile

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eMagin Corporation was a U.S.-based developer and manufacturer of high-resolution organic light-emitting diode (OLED) microdisplays. Its products were designed for applications requiring compact, lightweight displays with high image quality, including defense, aerospace, medical, industrial, and consumer systems.

The company’s product portfolio included active-matrix OLED microdisplays, display modules, and related display solutions. These technologies were used in applications such as night-vision and thermal-imaging equipment, helmet-mounted and head-up displays, avionics, training systems, and emerging augmented- and virtual-reality devices.

Founded in 1996 and headquartered in Hopewell Junction, New York, eMagin served customers in the United States and international markets, with a significant focus on government and defense programs.

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