eMagin (NYSE:EMA) Stock Gets Price Target Cut from Barclays

eMagin (NYSE:EMA) had its price target reduced by equities research analysts at Barclays from $53.00 to $50.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 7.38% from the company’s previous close.

Several other research firms have also recently commented on EMA. Weiss Ratings cut eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of eMagin from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

eMagin Price Performance

EMA stock traded down $1.16 during midday trading on Monday, hitting $46.56. 212,961 shares of the company’s stock were exchanged, compared to its average volume of 443,899. The firm has a 50 day moving average price of $49.11 and a 200-day moving average price of $51.46. eMagin has a 12-month low of $45.27 and a 12-month high of $55.49.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EMA. Baskin Financial Services Inc. acquired a new position in eMagin in the third quarter worth $654,000. TD Waterhouse Canada Inc. acquired a new stake in shares of eMagin during the third quarter worth $223,735,000. Cardinal Capital Management Inc. acquired a new stake in shares of eMagin during the third quarter worth $10,613,000. Mather Group LLC. acquired a new stake in shares of eMagin during the third quarter worth $38,000. Finally, Tompkins Financial Corp bought a new position in shares of eMagin in the 3rd quarter worth about $120,000.

About eMagin

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.