eMagin Corporation (NYSE:EMA) Stock Short Interest Report for October

eMagin Corporation (NYSE:EMA) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 10,127,988 shares, an increase 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 presently 8.6 days.

Hedge Funds Weigh In On eMagin

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EMA. Wall Street Zen downgraded eMagin from a “sell” rating to a “strong sell” rating in a report on Saturday. Barclays dropped their target price on eMagin from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Finally, Weiss Ratings raised eMagin from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.00.

eMagin Price Performance

Shares of NYSE EMA opened at $49.99 on Wednesday. eMagin has a 52-week low of $45.27 and a 52-week high of $55.49. The business has a fifty day moving average of $48.55 and a two-hundred day moving average of $51.14.

eMagin Increases Dividend

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

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.