eMagin Corporation (AMEX: EMAN) stock fell -2.30% on Wednesday to $0.85 against a previous-day closing price of $0.87. With 0.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.25 million shares. During the session, the Semiconductor Equipment & Materials company that operates in wider Technology sector, reached to the highest price of $0.8851 whereas the lowest price it dropped to was $0.8400. The 52-week range on EMAN shows that it touched its highest point at $2.15 and its lowest point at $0.55 during that stretch. Beta for the stock currently stands at 1.87.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EMAN was down-trending over the past week, with a drop of -2.98%, but this was down by -24.11% over a month. Three-month performance surged to 8.89% while six-month performance rose 24.43%. The stock lost -59.52% in the past year, while it has lost -34.11% so far this year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.00%.
Float and Shares Shorts:
At present, 78.22 million EMAN shares are outstanding with a float of 77.20 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.66 million, which was 3.47% higher than short shares on Sep 14, 2022. In addition to Mr. Andrew G. Sculley Jr. as the firm’s CEO & Director, Mr. Mark A. Koch serves as its Chief Financial Officer.
Through their ownership of 14.68% of EMAN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.17% of EMAN, in contrast to 4.22% held by mutual funds. Shares owned by individuals account for 13.65%. As the largest shareholder in EMAN with 3.75% of the stake, The Vanguard Group, Inc. holds 2,876,820 shares worth 2,876,820. A second-largest stockholder of EMAN, AWM Investment Co., Inc., holds 1,119,887 shares, controlling over 1.46% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in EMAN, holding 919,246 shares or 1.20% stake. With a 2.76% stake in EMAN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,116,738 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.18% of EMAN stock, is the second-largest Mutual Fund holder. It holds 904,971 shares valued at 0.83 million. Fidelity Extended Market Index Fu holds 0.44% of the stake in EMAN, owning 339,592 shares worth 0.31 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EMAN since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EMAN analysts setting a high price target of $5.00 and a low target of $5.00, the average target price over the next 12 months is $5.00. Based on these targets, EMAN could surge 488.24% to reach the target high and rise by 488.24% to reach the target low. Reaching the average price target will result in a growth of 488.24% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EMAN will report FY 2021 earnings on 03/29/2023. Analysts have provided yearly estimates in a range of -$0.12 being high and -$0.12 being low. For EMAN, this leads to a yearly average estimate of -$0.12. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.03. The average estimate for the next quarter is thus -$0.03.
Summary of Insider Activity:
Insiders traded EMAN stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 85,979 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 39,349 while 634,596 shares were sold.