eMagin (NYSE:EMA) Trading 0.6% Higher – Here’s Why

eMagin Corporation (NYSE:EMA)’s share price traded up 0.6% during mid-day trading on Thursday . The company traded as high as $53.75 and last traded at $53.18. 330,610 shares were traded during trading, a decline of 7% from the average session volume of 354,381 shares. The stock had previously closed at $52.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America cut shares of eMagin from a “buy” rating to a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of eMagin in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of eMagin from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, eMagin presently has an average rating of “Hold” and a consensus price target of $58.50.

eMagin Price Performance

The firm’s 50-day simple moving average is $51.46 and its two-hundred day simple moving average is $49.46.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EMA. State of Tennessee Department of Treasury bought a new position in shares of eMagin in the 2nd quarter valued at about $7,749,000. Versant Capital Management Inc bought a new position in shares of eMagin in the 3rd quarter valued at about $284,000. Syon Capital LLC bought a new position in shares of eMagin in the 3rd quarter valued at about $306,000. Russell Investments Group Ltd. boosted its stake in shares of eMagin by 26.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 107,611 shares of the company’s stock valued at $5,164,000 after purchasing an additional 22,654 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of eMagin in the 4th quarter valued at about $356,000.

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.