eMagin Co. (NYSEAMERICAN:EMAN) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 809,698 shares, a drop of 11.3% from the January 15th total of 912,791 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 74,969 shares, the days-to-cover ratio is presently 10.8 days.
Shares of NYSEAMERICAN EMAN opened at $0.82 on Thursday. eMagin has a 52-week low of $0.79 and a 52-week high of $1.95.
A number of research analysts have issued reports on the company. HC Wainwright set a $4.00 price objective on eMagin and gave the company a “buy” rating in a report on Friday, November 9th. Zacks Investment Research cut eMagin from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th.
In related news, major shareholder Awm Investment Company, Inc. sold 536,900 shares of the firm’s stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $0.90, for a total value of $483,210.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,017,952 shares of company stock valued at $953,936.
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eMagin Company Profile
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.
Further Reading: What is a short straddle?
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