eMagin (NYSE:EMA) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of eMagin Corporation (NYSE:EMA) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $51.16 and traded as high as $51.34. eMagin shares last traded at $51.2860, with a volume of 624,737 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EMA. Weiss Ratings upgraded shares of eMagin from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Barclays dropped their price target on shares of eMagin from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Finally, Wall Street Zen lowered eMagin from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 31st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

eMagin Stock Performance

The stock has a 50-day moving average price of $48.56 and a 200 day moving average price of $51.16.

eMagin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a C$0.74 dividend. This is an increase from eMagin’s previous quarterly dividend of C$0.73. This represents a $2.96 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, October 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in eMagin by 130.9% in the first quarter. Parallel Advisors LLC now owns 508 shares of the company’s stock valued at $26,000 after buying an additional 288 shares during the last quarter. Gold Investment Management Ltd. acquired a new stake in eMagin in the third quarter valued at $27,000. Mather Group LLC. acquired a new stake in eMagin in the third quarter valued at $38,000. EverSource Wealth Advisors LLC raised its stake in eMagin by 54.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the company’s stock valued at $57,000 after buying an additional 385 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new stake in eMagin during the 3rd quarter worth about $120,000.

About eMagin