eMagin (NYSE:EMA) Trading Up 1% – Here’s Why

eMagin Corporation (NYSE:EMA)’s stock price rose 1% during trading on Wednesday . The stock traded as high as $53.91 and last traded at $53.7240. Approximately 265,888 shares traded hands during trading, a decline of 29% from the average session volume of 373,002 shares. The stock had previously closed at $53.19.

Wall Street Analyst Weigh In

EMA has been the subject of a number of analyst reports. Wall Street Zen upgraded eMagin from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Barclays reduced their target price on shares of eMagin from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings downgraded eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.33.

eMagin Trading Up 1.0%

The firm has a fifty day simple moving average of $52.46 and a 200-day simple moving average of $51.40.

eMagin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.7325 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.93 dividend on an annualized basis and a dividend yield of 5.5%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in eMagin by 15.0% during the 2nd quarter. Versant Capital Management Inc now owns 7,396 shares of the company’s stock worth $392,000 after acquiring an additional 963 shares in the last quarter. Rathbones Group PLC raised its stake in shares of eMagin by 0.3% in the 1st 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 raised its stake in shares of eMagin by 130.9% in the 1st quarter. Parallel Advisors LLC now owns 508 shares of the company’s stock valued at $26,000 after purchasing an additional 288 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of eMagin by 54.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the company’s stock worth $57,000 after purchasing an additional 385 shares during the last quarter. Finally, DGS Capital Management LLC bought a new position in shares of eMagin during the first quarter worth about $349,000.

eMagin Company Profile

eMagin Corporation engages in the design, develop, manufacture, and market of organic light-emitting diode (OLED) miniature displays on-silicon micro displays, virtual imaging products that utilize OLED micro displays, and related products in the United States and internationally. It offers super video graphics array (SVGA) + OLED micro displays; digital SVGA OLED-XL; super extended graphics array OLED-XL/XLS; video graphics array OLED-XL; and widescreen ultra-extended graphics array OLED-XL. The company also provides design reference kits, which include a micro display and associated electronics to help original equipment manufacturers (OEMs) to evaluate micro display products; near-eye virtual imaging modules that incorporate its OLED-on-silicon micro displays with its lenses and electronic interfaces for integration into OEM products; prism optics, a molded plastic prism lens that permits its AMOLED micro displays to provide realistic images that can be viewed for extended periods with reduced eye-fatigue; and driver boards.