Kopin (NASDAQ:KOPN) Trading Up 7.7% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN) shares traded up 7.7% during mid-day trading on Friday . The stock traded as high as $3.91 and last traded at $3.9750. 3,205,767 shares traded hands during trading, a decline of 44% from the average session volume of 5,765,379 shares. The stock had previously closed at $3.69.

Wall Street Analysts Forecast Growth

KOPN has been the subject of several recent analyst reports. Weiss Ratings raised shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Canaccord Genuity Group lifted their price objective on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research report on Thursday, May 14th. Craig Hallum reiterated a “buy” rating and issued a $10.00 target price on shares of Kopin in a research note on Tuesday, May 12th. Lake Street Capital increased their target price on Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Kopin currently has a consensus rating of “Moderate Buy” and an average target price of $7.15.

Kopin Price Performance

The stock has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $3.41. The stock has a market cap of $711.01 million, a PE ratio of 390.19 and a beta of 3.47.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The firm had revenue of $10.55 million during the quarter, compared to analysts’ expectations of $9.96 million. As a group, equities research analysts anticipate that Kopin Corporation will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other Kopin news, COO Paul Christopher Baker sold 116,860 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction of $461,597.00. Following the completion of the sale, the chief operating officer directly owned 480,005 shares in the company, valued at $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 176,840 shares of company stock worth $755,499 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kopin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EWA LLC acquired a new stake in Kopin in the 4th quarter valued at $25,000. Prudential Financial Inc. acquired a new position in shares of Kopin during the second quarter worth about $25,000. Legal & General Group Plc purchased a new position in Kopin in the 2nd quarter worth approximately $25,000. Cibc World Markets Corp acquired a new stake in Kopin in the fourth quarter valued at approximately $28,000. Finally, Principal Financial Group Inc. grew its position in Kopin by 30.7% in the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after acquiring an additional 3,243 shares in the last quarter. Institutional investors and hedge funds own 30.96% of the company’s stock.

About Kopin

Kopin Corporation (NASDAQ: KOPN) is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.