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Shares Of eMagin Corporation (AMEX: EMAN): Are They Overvalued Compared To Others?

eMagin Corporation (AMEX:EMAN) shares, rose in value on Friday, 05/13/22, with the stock price up by 7.32% to the previous day’s close as strong demand from buyers drove the stock to $0.74.

Actively observing the price movement in the last trading, the stock closed the session at $0.69, falling within a range of $0.67 and $0.75. The value of beta (5-year monthly) was 1.71. Referring to stock’s 52-week performance, its high was $4.36, and the low was $0.62. On the whole, EMAN has fluctuated by -31.44% over the past month.

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With the market capitalization of eMagin Corporation currently standing at about $61.45 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 12, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.03, which is expected to increase to $0 for fiscal year -$0.12 and then to about -$0.14 by fiscal year 2022. Data indicates that the EPS growth is expected to be 36.80% in 2022, while the next year’s EPS growth is forecast to be -16.70%.

Analysts have estimated the company’s revenue for the quarter at $8 million, with a low estimate of $8 million and a high estimate of $8 million. According to the average forecast, sales growth in current quarter could jump up 4.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $26.8 million, representing a decrease of -8.90% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EMAN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EMAN currently trading nearly -17.28% and -29.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.55, while the 7-day volatility ratio is showing 16.04% which for the 30-day chart, stands at 9.49%. Furthermore, eMagin Corporation (EMAN)’s beta value is 1.66, and its average true range (ATR) is 0.08. The company’s stock has been forecasted to trade at an average price of $5.00 over the course of the next 52 weeks, with a low of $5.00 and a high of $5.00. Based on these price targets, the low is -575.68% off current price, whereas the price has to move -575.68% to reach the yearly target high. Additionally, analysts’ median price of $5.00 is likely to be welcomed by investors because it represents a decrease of -575.68% from the current levels.

A comparison of eMagin Corporation (EMAN) with its peers suggests the former has fared considerably weaker in the market. EMAN showed an intraday change of 7.32% in last session, and over the past year, it shrunk by -67.52%%. In comparison, Super Micro Computer Inc. (SMCI) has moved higher at 2.37% on the day and was up 44.37% over the past 12 months. On the other hand, the price of Kopin Corporation (KOPN) has risen 5.26% on the day. The stock, however, is off -81.62% from where it was a year ago. Additionally, there is a gain of 4.63% for LG Display Co. Ltd. (LPL) in last trading while the stock has seen an overall depriciation of -31.10%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for eMagin Corporation (AMEX:EMAN) indicates that the trading volumes over the past 10 days have averaged 0.6 million and over the past 3 months, they’ve averaged 355.91K. According to company’s latest data on outstanding shares, there are 72.57 million shares outstanding.

Nearly 3.48% of eMagin Corporation’s shares belong to company insiders and institutional investors own 20.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.15 million shares as on Dec 14, 2021, resulting in a short ratio of 3.18. According to the data, the short interest in eMagin Corporation (EMAN) stood at 4.33% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 2.83 million. The stock has fallen by -42.60% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EMAN stock heading into the next quarter.

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