eMagin (NYSEAMERICAN:EMAN) Rating Increased to Hold at Zacks Investment Research

eMagin (NYSEAMERICAN:EMAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Shares of NYSEAMERICAN EMAN traded down $0.13 during mid-day trading on Wednesday, hitting $2.16. 686,655 shares of the company’s stock traded hands, compared to its average volume of 1,427,805. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $156.61 million, a price-to-earnings ratio of -10.29 and a beta of 1.60. eMagin has a 1 year low of $1.05 and a 1 year high of $5.42.

eMagin (NYSEAMERICAN:EMAN) last announced its earnings results on Thursday, August 12th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $6.28 million for the quarter, compared to analysts’ expectations of $7.70 million. eMagin had a negative net margin of 53.14% and a negative return on equity of 52.28%. On average, equities analysts predict that eMagin will post -0.09 EPS for the current fiscal year.

In related news, major shareholder Stillwater Holdings Llc sold 38,550 shares of the stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $2.56, for a total value of $98,688.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 54,586 shares of company stock worth $137,548 over the last three months. 8.94% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of eMagin by 3,250.6% during the first quarter. BlackRock Inc. now owns 1,047,264 shares of the semiconductor company’s stock valued at $3,917,000 after purchasing an additional 1,016,008 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of eMagin by 33.6% during the first quarter. Geode Capital Management LLC now owns 472,288 shares of the semiconductor company’s stock valued at $1,766,000 after purchasing an additional 118,746 shares in the last quarter. Northern Trust Corp boosted its stake in shares of eMagin by 11.5% during the first quarter. Northern Trust Corp now owns 119,970 shares of the semiconductor company’s stock valued at $449,000 after purchasing an additional 12,343 shares in the last quarter. Citigroup Inc. bought a new position in shares of eMagin during the first quarter valued at approximately $711,000. Finally, Renaissance Technologies LLC boosted its stake in shares of eMagin by 212.8% during the first quarter. Renaissance Technologies LLC now owns 301,059 shares of the semiconductor company’s stock valued at $1,126,000 after purchasing an additional 204,822 shares in the last quarter. Institutional investors and hedge funds own 20.66% of the company’s stock.

About eMagin

eMagin Corp. engages in the design, development, manufacture, and marketing of organic light emitting diode (OLED) miniature displays and related products. Its OLED displays are incorporated with products including military aviation helmets, military weapons sights and targeting systems, night vision and thermal imaging devices, training and simulation, visualization for ocular surgery, mobile ultrasound, and augmented reality applications.

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