eMagin Co. (NYSE:EMAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “eMagin Corporation is a leading developer of virtual imaging technology, eMagin combines integrated circuits, microdisplays, and optics to create a virtual image equivalent to the real image of a computer monitor or large screen TV. These miniature, high-performance, virtual imaging modules provide access to information-rich text, data, and video which can facilitate the opening of new mass markets for wearable PCs, wireless Internet appliances and mobile phones, portable DVD-viewers, digital cameras, and other emerging applications. “

A number of other brokerages also recently issued reports on EMAN. HC Wainwright started coverage on eMagin in a report on Saturday, June 24th. They set a “buy” rating and a $4.00 price target for the company. Rodman & Renshaw reaffirmed a “buy” rating and set a $4.00 price target on shares of eMagin in a report on Friday, June 23rd.

Shares of eMagin (NYSE:EMAN) traded down 4.35% on Tuesday, reaching $2.20. The company had a trading volume of 43,955 shares. The company has a 50 day moving average of $2.47 and a 200-day moving average of $2.41. eMagin has a 52 week low of $1.85 and a 52 week high of $3.00. The company’s market capitalization is $76.89 million.

eMagin (NYSE:EMAN) last announced its quarterly earnings results on Thursday, August 10th. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $5.26 million for the quarter, compared to analysts’ expectations of $6 million. eMagin had a negative return on equity of 40.94% and a negative net margin of 32.94%. Analysts predict that eMagin will post ($0.23) earnings per share for the current fiscal year.

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In other news, major shareholder Stillwater Holdings Llc bought 50,000 shares of eMagin stock in a transaction dated Wednesday, May 24th. The stock was acquired at an average cost of $2.00 per share, with a total value of $100,000.00. Following the acquisition, the insider now owns 1,283,501 shares of the company’s stock, valued at $2,567,002. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

An institutional investor recently bought a new position in eMagin stock. Virtu KCG Holdings LLC purchased a new stake in shares of eMagin Co. (NYSE:EMAN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 42,044 shares of the semiconductor company’s stock, valued at approximately $103,000. Virtu KCG Holdings LLC owned about 0.13% of eMagin as of its most recent filing with the SEC.

eMagin Company Profile

eMagin Corporation is engaged in the manufacture of microdisplays using organic light emitting diode (OLED) technology. The Company designs, develops, manufactures and markets OLED on silicon microdisplays, virtual imaging products that utilizes OLED microdisplays and related products. The Company also performs research in the OLED field.

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