eMagin (NYSE:EMA) Stock Rating Lowered by Wall Street Zen

eMagin (NYSE:EMA) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently weighed in on EMA. Weiss Ratings raised eMagin from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Barclays cut their price objective on shares of eMagin from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.00.

eMagin Stock Performance

Shares of EMA stock opened at $47.71 on Friday. The stock’s fifty day moving average price is $51.05 and its 200 day moving average price is $52.02. eMagin has a 1-year low of $46.78 and a 1-year high of $55.49.

Hedge Funds Weigh In On eMagin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMA. The Manufacturers Life Insurance Company lifted its position in eMagin by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock worth $65,258,000 after acquiring an additional 71,020 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of eMagin in the second quarter valued at about $264,000. Tidal Investments LLC increased its holdings in shares of eMagin by 30.3% in the second quarter. Tidal Investments LLC now owns 5,917 shares of the company’s stock valued at $314,000 after purchasing an additional 1,376 shares during the period. Engineers Gate Manager LP raised its stake in shares of eMagin by 182.6% in the second quarter. Engineers Gate Manager LP now owns 26,564 shares of the company’s stock worth $1,408,000 after purchasing an additional 17,165 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in shares of eMagin by 7.4% in the second quarter. Cidel Asset Management Inc. now owns 19,215 shares of the company’s stock worth $1,019,000 after purchasing an additional 1,320 shares during the last quarter.

eMagin Company Profile

eMagin Corporation was a U.S.-based developer and manufacturer of organic light-emitting diode (OLED) microdisplays and near-eye display systems. Its products were designed for applications requiring compact, high-resolution displays, including military and aerospace equipment, night-vision and thermal-imaging systems, medical devices, industrial instruments, and other specialized electronics.

The company developed active-matrix OLED microdisplays, display engines, and related technologies intended for use in head-mounted and wearable systems.