The stock of eMagin Corporation (NYSE:EMAN) is now priced at $1.33 and the shares are -0.04 points down or -2.92% lower compared to its previous closing price of $1.37. The stock had 1.539 million contracts set over the past session. EMAN shares’ daily volume is compared to its average trading volume at 6.236 million shares. However, it has a float of 58.33 million and although its performance was 3.1% over the week, it’s one to watch. Analysts have given the EMAN stock a yearly average price target of $2 per share. It means the stock’s upside potential is 50.38% with the EMAN share price recently placing at $1.27 to $1.4. However, some brokerage firms have priced the stock below the average, including one that has called $2.
The shorts are running away from the eMagin Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EMAN shares have declined. Short interest in the stock represents just 4.88% of its float, but the volume has dropped by 0.
In the last trading session, eMagin Corporation (NYSE:EMAN) raised by $0.04 over the week and gained $0.26 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.9. The stock recorded its established 52-week high on 08/14/20.
Since 03/23/20, the stock has traded to a low of $0.14 at 850%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.89. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, eMagin Corporation’s two-week RSI is 49.95. This suggests that the stock is neutral at the moment and that EMAN shares’ price movement remains stable. The stochastic readings are equally revealing at 19.32% meaning the EMAN share price is currently in overbought territory.
The technical chart shows that the EMAN stock will likely settle at between $1.3967 and $1.4633 per share. However, if the stock dips below $1.2667, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.2033.
Currently, the stock is trading in the red of MACD, with a reading of -0.0611. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned EMAN a rating of Buy in their resuming review released on June 23. H.C. Wainwright analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on December 16 initiating covering the stock. Oppenheimer analysts see the stock as Perform when the analysts initiated the share price coverage on May 30.
The average rating for the EMAN equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking eMagin Corporation polled by Reuters, 0 rated EMAN as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 31.5. eMagin Corporation has its P/E ratio at 5.4, which means that the stock is currently trading at a discount relative to the 8.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for eMagin Corporation (NYSE:EMAN) will decrease by about -99.9%, which will see them reach $7.9 million. The company’s full-year revenues are, however, expected to increase by about 9.99%, up from $26.73 million to $29.4 million. EMAN’s expected adjusted earnings should drop almost -60% to end up at -$0.02 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 44.44% to record -$0.13/share.