Geode Capital Management 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 0.51% to 0.55 million shares with purchase of 2778.0 shares. This fresh investment now brings its stake to 0.70% valued currently at $0.46 million.
With over 0.13 million eMagin Corporation (EMAN) shares trading Friday and a closing price of $0.94 on the day, the dollar volume was approximately $0.13 million. The shares have shown a positive half year performance of 12.41% and its price on 01/20/23 gained nearly 3.09%. Currently, there are 76.75M common shares owned by the public and among those 76.20M 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 $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00. But an upside of 81.2% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 67 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 39,349 shares. Insider sales of the common stock occurred on 61 occasions, with total insider shares sold totaling 846,153 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 2.92 million shares of the company’s stock, all valued at over $2.49 million. Vanguard Extended Market Index Fu bought 1404.0 shares to see its total holdings expand to 0.91 million shares valued at over $0.77 million and representing 1.16% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.43% of the shares outstanding.
Shares of eMagin Corporation (AMEX: EMAN) opened at $0.92, up $0.01 from a prior closing price of $0.91. However, the script later moved the day high at 0.9400, up 3.09%. The company’s stock has a 5-day price change of 4.24% and 30.75% over the past three months. EMAN shares are trading 10.36% year to date (YTD), with the 12-month market performance down to -24.95% lower. It has a 12-month low price of $0.55 and touched a high of $1.38 over the same period. EMAN has an average intraday trading volume of 221.48K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.59%, 10.19%, and 17.72% respectively.
Institutional ownership of eMagin Corporation (AMEX: EMAN) shares accounts for 13.30% of the company’s 76.75M shares outstanding. Mutual fund holders own 3.07%, while other institutional holders and individual stakeholders account for 6.10% and 13.85% respectively.
It has a market capitalization of $71.21M and a beta (3y monthly) value of 1.87. The earnings-per-share (ttm) stands at -$0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.75% over the week and 5.83% over the month.
Analysts forecast that eMagin Corporation (EMAN) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2023. 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 -$0.13 a year ago. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 23.00% 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.