eMagin (EMAN) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research cut shares of eMagin (NYSEAMERICAN:EMAN) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
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 eMagin and gave the stock a buy rating in a research report on Friday, May 11th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Washington CORP boosted its holdings in eMagin by 23.1% in the first quarter. First Washington CORP now owns 1,413,853 shares of the semiconductor company’s stock valued at $2,050,000 after purchasing an additional 265,620 shares during the period. Northern Trust Corp boosted its holdings in eMagin by 147.0% in the first quarter. Northern Trust Corp now owns 90,712 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 53,980 shares during the period. Finally, Penn Capital Management Co. Inc. purchased a new position in eMagin in the first quarter valued at $1,055,000.
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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