eMagin (NYSE:EMA) Stock Bumped Down to “Strong Sell” by Wall Street Zen

Wall Street Zen downgraded shares of eMagin (NYSE:EMA) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Barclays decreased their target price on shares of eMagin from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Weiss Ratings upgraded shares of eMagin from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.00.

eMagin Trading Down 0.1%

Shares of eMagin stock opened at $47.71 on Friday. eMagin has a 12-month low of $46.78 and a 12-month high of $55.49. The business’s 50 day moving average is $51.05 and its 200-day moving average is $52.02.

eMagin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a C$0.73 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, August 3rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in eMagin by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock valued at $65,258,000 after purchasing an additional 71,020 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of eMagin in the second quarter valued at $264,000. Tidal Investments LLC raised its position in shares of eMagin by 30.3% in the second quarter. Tidal Investments LLC now owns 5,917 shares of the company’s stock valued at $314,000 after purchasing an additional 1,376 shares during the period. Engineers Gate Manager LP raised its position in shares of eMagin by 182.6% in the second quarter. Engineers Gate Manager LP now owns 26,564 shares of the company’s stock valued at $1,408,000 after purchasing an additional 17,165 shares during the period. Finally, Cidel Asset Management Inc. lifted its stake in shares of eMagin by 7.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 19,215 shares of the company’s stock worth $1,019,000 after buying an additional 1,320 shares during the last quarter.

eMagin Company Profile

eMagin Corporation was a U.S.-based developer and manufacturer of organic light-emitting diode (OLED) microdisplays and near-eye display systems. Its products were designed for applications requiring compact, high-resolution displays, including military and aerospace equipment, night-vision and thermal-imaging systems, medical devices, industrial instruments, and other specialized electronics.

The company developed active-matrix OLED microdisplays, display engines, and related technologies intended for use in head-mounted and wearable systems.