eMagin (NYSE:EMA) Shares Up 1% – What’s Next?

Shares of eMagin Corporation (NYSE:EMA) shot up 1% on Wednesday . The company traded as high as $53.91 and last traded at $53.7240. Approximately 265,888 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 373,002 shares. The stock had previously closed at $53.19.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EMA shares. Weiss Ratings cut shares of eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Barclays dropped their price objective on shares of eMagin from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Finally, Wall Street Zen raised eMagin from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.33.

eMagin Stock Up 0.4%

The firm’s 50 day moving average is $52.48 and its two-hundred day moving average is $51.45.

eMagin Dividend Announcement

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

Hedge Funds Weigh In On eMagin

Several institutional investors and hedge funds have recently modified their holdings of EMA. State of Tennessee Department of Treasury purchased a new stake in eMagin in the 2nd quarter worth approximately $7,749,000. Russell Investments Group Ltd. lifted its stake in shares of eMagin by 22.5% during the 4th quarter. Russell Investments Group Ltd. now owns 131,852 shares of the company’s stock worth $6,506,000 after purchasing an additional 24,241 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of eMagin during the fourth quarter worth $356,000. DGS Capital Management LLC acquired a new stake in shares of eMagin during the first quarter worth $349,000. Finally, Versant Capital Management Inc grew its position in shares of eMagin by 15.0% in the second quarter. Versant Capital Management Inc now owns 7,396 shares of the company’s stock valued at $392,000 after purchasing an additional 963 shares during the period.

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.