eMagin (NYSE:EMA) Downgraded by Wall Street Zen to Strong Sell

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

Several other research analysts have also recently issued reports on EMA. Weiss Ratings raised eMagin from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Barclays reduced their price objective on eMagin from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. One research 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 has an average rating of “Hold” and an average target price of $50.00.

eMagin Stock Down 0.3%

Shares of EMA opened at $49.25 on Friday. The firm’s 50 day moving average is $48.56 and its 200-day moving average is $51.12. eMagin has a 12-month low of $45.27 and a 12-month high of $55.49.

eMagin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of C$0.74 per share. This is an increase from eMagin’s previous quarterly dividend of C$0.73. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.96 annualized dividend and a yield of 6.0%.

Institutional Trading of eMagin

A number of hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. bought a new position in shares of eMagin during the 3rd quarter valued at $223,735,000. Cardinal Capital Management Inc. acquired a new stake in shares of eMagin in the 3rd quarter valued at $10,613,000. The Manufacturers Life Insurance Company boosted its holdings in eMagin by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock worth $65,258,000 after purchasing an additional 71,020 shares in the last quarter. Wellington Management Group LLP bought a new stake in eMagin in the second quarter worth $2,926,000. Finally, Greenland Capital Management LP acquired a new position in eMagin during the second quarter worth $2,562,000.

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.