eMagin Co. (EMAN) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of eMagin Co. (NYSE:EMAN) from a hold rating to a sell rating in a research report sent 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. “

Several other equities analysts have also commented on the company. HC Wainwright reiterated a buy rating and set a $4.00 price objective on shares of eMagin in a research report on Friday, September 15th. Rodman & Renshaw reiterated a buy rating and set a $4.00 price objective on shares of eMagin in a research report on Friday, June 23rd.

Shares of eMagin (NYSE:EMAN) opened at 2.25 on Tuesday. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $2.37. eMagin has a 1-year low of $1.85 and a 1-year high of $3.00. The company’s market capitalization is $78.69 million.

eMagin (NYSE:EMAN) last announced its quarterly earnings data on Thursday, August 10th. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $5.26 million for the quarter, compared to the consensus estimate of $6.00 million. eMagin had a negative net margin of 43.16% and a negative return on equity of 44.28%. On average, equities analysts expect that eMagin will post ($0.23) earnings per share for the current fiscal year.

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A hedge fund recently bought a new stake in eMagin stock. AWM Investment Company Inc. acquired a new stake in shares of eMagin Co. (NYSE:EMAN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,261,000 shares of the semiconductor company’s stock, valued at approximately $7,989,000. eMagin comprises approximately 1.3% of AWM Investment Company Inc.’s investment portfolio, making the stock its 25th biggest position. AWM Investment Company Inc. owned approximately 9.32% of eMagin as of its most recent SEC filing.

About eMagin

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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