eMagin Corporation (NYSE:EMA) Shares Shorted: Short Interest Up 68.6% in October

eMagin Corporation (NYSE:EMA) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 10,127,988 shares, a growth of 68.6% from the September 30th total of 6,007,475 shares. Based on an average daily volume of 1,173,439 shares, the short-interest ratio is currently 8.6 days.

Wall Street Analysts Forecast Growth

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

eMagin Trading Up 1.4%

EMA stock opened at $49.97 on Tuesday. The company has a fifty day simple moving average of $48.55 and a two-hundred day simple moving average of $51.13. eMagin has a 52 week low of $45.27 and a 52 week high of $55.49.

eMagin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a C$0.74 dividend. This is an increase from eMagin’s previous quarterly dividend of C$0.73. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.96 dividend on an annualized basis and a yield of 5.9%.

Institutional Investors Weigh In On eMagin

Several large investors have recently modified their holdings of EMA. Alps Advisors Inc. acquired a new stake in shares of eMagin in the 3rd quarter worth $1,653,000. Generali Asset Management SPA SGR purchased a new stake in eMagin during the third quarter worth $529,000. Signaturefd LLC purchased a new position in eMagin during the third quarter worth approximately $216,000. Crossmark Global Holdings Inc. acquired a new stake in shares of eMagin in the third quarter valued at about $1,044,000. Finally, Guardian Partners Inc. raised its stake in eMagin by 4.9% in the 3rd quarter. Guardian Partners Inc. now owns 168,560 shares of the company’s stock valued at $8,076,000 after purchasing an additional 7,850 shares during the last quarter.

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.