Barclays Has Lowered Expectations for eMagin (NYSE:EMA) Stock Price

eMagin (NYSE:EMA) had its price target decreased by equities researchers at Barclays from $53.00 to $50.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 7.38% from the stock’s current price.

Several other brokerages also recently issued reports on EMA. Wall Street Zen raised eMagin from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Weiss Ratings lowered eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, eMagin presently has a consensus rating of “Hold” and an average target price of $50.00.

eMagin Stock Performance

EMA stock traded down $1.16 during midday trading on Monday, reaching $46.56. The company had a trading volume of 212,961 shares, compared to its average volume of 443,899. The stock has a 50 day moving average price of $49.11 and a 200 day moving average price of $51.46. eMagin has a fifty-two week low of $45.27 and a fifty-two week high of $55.49.

Institutional Investors Weigh In On eMagin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new stake in eMagin in the third quarter worth about $223,735,000. The Manufacturers Life Insurance Company grew its position in eMagin by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock valued at $65,258,000 after buying an additional 71,020 shares in the last quarter. Cardinal Capital Management Inc. acquired a new position in eMagin during the 3rd quarter valued at about $10,613,000. Rathbones Group PLC increased its stake in eMagin by 0.3% during the 1st quarter. Rathbones Group PLC now owns 58,900 shares of the company’s stock valued at $3,043,000 after buying an additional 200 shares during the period. Finally, Wellington Management Group LLP acquired a new position in eMagin during the 2nd quarter valued at about $2,926,000.

eMagin Company Profile

eMagin Corporation was a U.S.-based developer and manufacturer of high-resolution organic light-emitting diode (OLED) microdisplays. Its products were designed for applications requiring compact, lightweight displays with high image quality, including defense, aerospace, medical, industrial, and consumer systems.

The company’s product portfolio included active-matrix OLED microdisplays, display modules, and related display solutions. These technologies were used in applications such as night-vision and thermal-imaging equipment, helmet-mounted and head-up displays, avionics, training systems, and emerging augmented- and virtual-reality devices.

Founded in 1996 and headquartered in Hopewell Junction, New York, eMagin served customers in the United States and international markets, with a significant focus on government and defense programs.