eMagin (NYSE:EMA) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of eMagin (NYSE:EMA) from a strong sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Other equities analysts have also issued reports about the company. Barclays dropped their target price on eMagin from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Weiss Ratings raised eMagin from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.00.

eMagin Trading Up 0.7%

Shares of eMagin stock traded up $0.35 during trading hours on Friday, reaching $51.13. 241,128 shares of the company’s stock were exchanged, compared to its average volume of 496,752. eMagin has a 52-week low of $45.27 and a 52-week high of $55.49. The company has a fifty day moving average of $48.66 and a 200-day moving average of $51.20.

eMagin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Friday, October 30th were given a dividend of C$0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.8%. This is a positive change from eMagin’s previous quarterly dividend of C$0.73. The ex-dividend date of this dividend was Friday, October 30th.

Hedge Funds Weigh In On eMagin

A number of large investors have recently bought and sold shares of EMA. Cibc World Market Inc. acquired a new stake in shares of eMagin during the 3rd quarter worth $588,102,000. TD Waterhouse Canada Inc. acquired a new position in eMagin in the third quarter valued at $223,735,000. First Trust Advisors LP acquired a new position in eMagin in the third quarter valued at $33,832,000. Beutel Goodman & Co Ltd. acquired a new position in eMagin in the third quarter valued at $12,277,000. Finally, Cardinal Capital Management Inc. purchased a new stake in eMagin during the third quarter valued at about $10,613,000.

eMagin Company Profile

eMagin Corporation developed and manufactured high-resolution OLED microdisplays, compact screens designed for use in near-eye viewing systems. Its products served applications in defense, aerospace, medical, industrial and consumer markets, including head-mounted displays and other wearable devices. The company was known for OLED-on-silicon technology and its direct-patterning process for producing full-color microdisplays. eMagin was based in Hopewell Junction, New York, and Samsung Display completed its acquisition in 2023.