Zacks Investment Research Lowers eMagin (NYSEAMERICAN:EMAN) to Sell

eMagin (NYSEAMERICAN:EMAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, reports.

According to Zacks, “eMagin Corporation is a leading developer of virtual imaging technology, eMagin combines integrated circuits, microdisplays, and optics to create a virtual image equivalent to the real image of a computer monitor or large screen TV. These miniature, high-performance, virtual imaging modules provide access to information-rich text, data, and video which can facilitate the opening of new mass markets for wearable PCs, wireless Internet appliances and mobile phones, portable DVD-viewers, digital cameras, and other emerging applications. “

EMAN has been the topic of a number of other reports. HC Wainwright set a $2.00 price target on eMagin and gave the company a “buy” rating in a report on Monday, April 22nd. Craig Hallum cut eMagin from a “buy” rating to a “hold” rating in a research report on Tuesday.

Shares of NYSEAMERICAN:EMAN traded down $0.01 during midday trading on Friday, reaching $0.27. 75,594 shares of the company’s stock traded hands, compared to its average volume of 104,432. eMagin has a one year low of $0.25 and a one year high of $1.70.

eMagin (NYSEAMERICAN:EMAN) last announced its quarterly earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $5.36 million during the quarter, compared to analysts’ expectations of $7.70 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share.

About eMagin

eMagin Corporation designs, develops, manufactures, and markets organic light emitting diode (OLED) displays on-silicon micro displays; virtual imaging products that utilize OLED micro displays; and related products. It offers super video graphics array (SVGA) + OLED micro displays; digital SVGA OLED-XL; super extended graphics array OLED-XL/XLS and OLED-XL; video graphics array OLED-XL; and widescreen ultra-extended graphics array OLED-XL/XLS.

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