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Unlocking Growth Potential In eMagin Corporation (AMEX:EMAN)

eMagin Corporation (AMEX:EMAN) price on Friday, March 17, rose 12.16% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.66.

A look at the stock’s price movement, the close in the last trading session was $1.48, moving within a range at $1.45 and $1.69. The beta value (5-Year monthly) was 1.90. Turning to its 52-week performance, $1.54 and $0.55 were the 52-week high and 52-week low respectively. Overall, EMAN moved 44.35% over the past month.

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eMagin Corporation’s market cap currently stands at around $132.07 million, with investors looking forward to this quarter’s earnings report slated for May 10, 2023 – May 15, 2023.

The average forecast suggests up to a 13.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $27.5 million, representing a 5.60% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that EMAN is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend EMAN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

EMAN’s current price about 46.84% and 57.73% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 81.38, while 7-day volatility ratio is 15.95% and 8.64% in the 30-day chart. Further, eMagin Corporation (EMAN) has a beta value of 1.92, and an average true range (ATR) of 0.11. Analysts have given the company’s stock an average 52-week price target of $3.00, forecast between a low of $3.00 and high of $3.00. Looking at the price targets, the low is -80.72% off current price level while to achieve the yearly target high, price needs to move -80.72%. Nonetheless, investors will most likely welcome a -80.72% jump to $3.00 which is the analysts’ median price.

In the market, a comparison of eMagin Corporation (EMAN) and its peers suggest the former has performed considerably stronger. Data shows EMAN’s intraday price has changed 12.16% in last session and 45.61% over the past year. Comparatively, Super Micro Computer Inc. (SMCI) has moved -1.78% on the day and only 123.39% in the past 12 months. Looking at another peer, we see that Kopin Corporation (KOPN) price has dipped -8.74% on the day. However, the stock is -59.48% off its price a year ago. Moreover, LG Display Co. Ltd. (LPL) is also up 0.91% in trading on the day while keeping a a downtrend of -30.29% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on eMagin Corporation (AMEX:EMAN), historical trading data shows that trading volumes averaged 0.53 million over the past 10 days and 201.38K over the past 3 months. The company’s latest data on shares outstanding shows there are 82.46 million shares.

The 0.10% of eMagin Corporation’s shares are in the hands of company insiders while institutional holders own 13.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.68 million on Jan 30, 2023, giving us a short ratio of 16.42. The data shows that as of Jan 30, 2023 short interest in eMagin Corporation (EMAN) stood at 3.43% of shares outstanding, with shares short rising to 2.64 million registered in Dec 29, 2022. Current price change has pushed the stock 95.29% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the EMAN stock continues to rise going into the next quarter.

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