eMagin Corporation (AMEX: EMAN): Stock That Needs Special Handling


Renaissance Technologies LLC recently announced the acquisition of new stake in eMagin Corporation (AMEX:EMAN). The institutional investor has increased its shareholding in the Technology company by 10.34% to 0.27 million shares with purchase of 25140.0 shares. This fresh investment now brings its stake to 0.44% valued currently at $0.21 million. In addition, Two Sigma Securities LLC raised its holdings by 24701.0 to 24701.0 shares.

With over 1.29 million eMagin Corporation (EMAN) shares trading Friday and a closing price of $0.84 on the day, the dollar volume was approximately $1.08 million. The shares have shown a positive weekly performance of 3.42% and its price on 07/17/20 gained nearly 5.61%. Currently, there are 51.64M common shares owned by the public and among those 42.84M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for EMAN have a consensus price objective of $2.00. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the eMagin Corporation stock is 2.00 for the next 12 months. But an upside of 58.0% will see the stock hit the forecast high price target while mean target price for the stock is $2.00.

Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 56,578 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in eMagin Corporation are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.92 million shares of the company’s stock, all valued at over $0.72 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.10% of the shares outstanding.

Shares of eMagin Corporation (AMEX: EMAN) opened at $0.80, unchanged from a prior closing price of $0.80. However, the script later closed the day at $0.84, up 5.61%. The company’s stock has a 5-day price change of 3.42% and 211.59% over the past three months. EMAN shares are trading 144.71% year to date (YTD), with the 12-month market performance up to 87.00% higher. It has a 12-month low price of $0.14 and touched a high of $1.49 over the same period. Currently, 1.29 million shares have been traded, compared to an average intraday trading volume of 4.81 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.63%, 18.44%, and 90.70% respectively.

Institutional ownership of eMagin Corporation (AMEX: EMAN) shares accounts for 25.60% of the company’s 51.64M shares outstanding. Mutual fund holders own 25.12%, while other institutional holders and individual stakeholders account for 6.47% and 2.37% respectively.

It has a market capitalization of $48.82M and a beta (3y monthly) value of 1.65. The earnings-per-share (ttm) stands at -$0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.50% over the week and 8.63% over the month.

Analysts forecast that eMagin Corporation (EMAN) will achieve an EPS of $0 for the current quarter, -$0.01 for the next quarter and -$0.08 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to increase by 58.40%, and -14.30% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 16.20% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate eMagin Corporation (EMAN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the EMAN, a number of firms have released research notes about the stock. Rodman & Renshaw stated their Buy rating for the stock in a research note on June 23, 2017, with the firm’s price target at $4. H.C. Wainwright coverage for the eMagin Corporation (EMAN) stock in a research note released on December 16, 2014 offered a Buy rating with a price target of $3.


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