Why EMagin's Stock Is Trading Higher Today

EMagin Corporation EMAN shares are trading higher on Friday, after the company announced a $5.5 million Department of Defense Award.

EMagin designs, develops, manufactures and markets organic light emitting diode, or OLED miniature displays, OLED-on-silicon microdisplays, virtual imaging products that utilize OLED microdisplays, and related products. Its products have higher contrast, greater power efficiency, less weight, more compact size, and negligible image smearing.

The company's OLED displays are used in a variety of products including, military aviation helmets, military weapons sights and targeting systems, night vision and thermal imaging devices, training and simulation, visualization for ocular surgery, mobile ultrasound, and augmented reality applications.

EMagin shares were trading up 90% at $1.14 on Friday. The stock has a 52-week high of $1.49 and a 52-week low of 14 cents