eMagin (EMAN) Upgraded 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 Friday, September 14th.

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. “

Separately, HC Wainwright set a $4.00 price target on shares of eMagin and gave the stock a “buy” rating in a research note on Friday, August 10th.

eMagin stock traded down $0.06 during mid-day trading on Friday, reaching $1.53. The stock had a trading volume of 44,000 shares, compared to its average volume of 166,509. eMagin has a one year low of $1.23 and a one year high of $2.30.

eMagin (NYSEAMERICAN:EMAN) last announced its quarterly earnings results on Thursday, August 9th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The company had revenue of $7.07 million for the quarter, compared to analysts’ expectations of $6.60 million. eMagin had a negative net margin of 69.91% and a negative return on equity of 57.13%.

A hedge fund recently raised its stake in eMagin stock. Northern Trust Corp raised its stake in shares of eMagin Co. (NYSEAMERICAN:EMAN) by 147.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 90,712 shares of the semiconductor company’s stock after acquiring an additional 53,980 shares during the period. Northern Trust Corp owned approximately 0.20% of eMagin worth $131,000 as of its most recent SEC filing.

About eMagin

eMagin Corporation designs, develops, manufactures, and markets organic light emitting diode (OLED) displays on-silicon micro displays; virtual imaging products that utilize OLED micro displays; and related products. It offers super video graphics array (SVGA) + OLED micro displays; digital SVGA OLED-XL; super extended graphics array OLED-XL/XLS and OLED-XL; video graphics array OLED-XL; and widescreen ultra-extended graphics array OLED-XL.

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