Zacks Investment Research Lowers eMagin (EMAN) to Sell

Zacks Investment Research cut shares of eMagin (NYSEAMERICAN:EMAN) from a hold rating to a sell rating in a research report report published on Friday.

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 target price on eMagin and gave the stock a buy rating in a research note on Friday, August 10th.

NYSEAMERICAN EMAN opened at $1.45 on Friday. eMagin has a 1 year low of $1.23 and a 1 year high of $2.30.

eMagin (NYSEAMERICAN:EMAN) last posted its earnings results on Thursday, August 9th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 57.13% and a negative net margin of 69.91%.

A hedge fund recently bought a new stake in eMagin stock. Penn Capital Management Co. Inc. acquired a new stake in shares of eMagin Co. (NYSEAMERICAN:EMAN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 727,378 shares of the semiconductor company’s stock, valued at approximately $1,055,000. Penn Capital Management Co. Inc. owned approximately 1.61% of eMagin as of its most recent filing with the SEC.

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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