Kopin (NASDAQ:KOPN) Shares Gap Up – Here’s Why

Kopin Corporation (NASDAQ:KOPN) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.34, but opened at $4.65. Kopin shares last traded at $4.7230, with a volume of 812,421 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Canaccord Genuity Group boosted their price objective on shares of Kopin from $6.25 to $6.50 and gave the company a “buy” rating in a research report on Friday, August 14th. Zacks Research lowered shares of Kopin from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Kopin from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Oppenheimer initiated coverage on Kopin in a research note on Thursday. They issued an “outperform” rating and a $7.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.17.

Kopin Price Performance

The stock has a market capitalization of $893.11 million, a P/E ratio of 119.65 and a beta of 3.57. The company’s 50-day simple moving average is $4.27 and its 200-day simple moving average is $3.95.

Hedge Funds Weigh In On Kopin

A number of institutional investors have recently bought and sold shares of KOPN. Principal Financial Group Inc. increased its stake in shares of Kopin by 30.7% during the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock worth $31,000 after purchasing an additional 3,243 shares during the period. Allworth Financial LP boosted its stake in Kopin by 82.2% in the 2nd quarter. Allworth Financial LP now owns 9,047 shares of the company’s stock valued at $41,000 after purchasing an additional 4,081 shares during the period. Meeder Asset Management Inc. bought a new stake in Kopin in the 2nd quarter valued at $33,000. Sequoia Financial Advisors LLC grew its holdings in Kopin by 6.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 120,789 shares of the company’s stock valued at $541,000 after buying an additional 7,444 shares in the last quarter. Finally, First Bank & Trust grew its holdings in Kopin by 79.1% in the 2nd quarter. First Bank & Trust now owns 18,517 shares of the company’s stock valued at $83,000 after buying an additional 8,176 shares in the last quarter. Institutional investors and hedge funds own 30.96% of the company’s stock.

Kopin Company Profile

Kopin Corporation is a technology company that develops microdisplays, wearable-computing systems and application-specific optical solutions. Its technologies are designed for use in defense, professional, medical, industrial and consumer products, where compact displays and hands-free access to information can support situational awareness, training, inspection and other specialized tasks.

The company’s product portfolio has included miniature display technologies such as active-matrix liquid crystal displays, organic light-emitting diode displays and other microdisplay architectures, along with optical modules, eyepieces and related system components.