Kopin (NASDAQ:KOPN) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Kopin (NASDAQ:KOPN) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. JonesTrading started coverage on Kopin in a report on Monday, April 27th. They issued a “buy” rating and a $6.00 price objective on the stock. Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Kopin in a report on Tuesday, May 12th. Lake Street Capital increased their price objective on Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Kopin from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus increased their price objective on Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Five 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.15.

Kopin Price Performance

NASDAQ:KOPN opened at $5.51 on Tuesday. Kopin has a fifty-two week low of $1.23 and a fifty-two week high of $6.45. The stock’s 50-day moving average is $3.52 and its two-hundred day moving average is $2.86. The stock has a market cap of $1.01 billion, a PE ratio of 551.55 and a beta of 3.40.

Kopin (NASDAQ:KOPN) last released its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The business had revenue of $10.55 billion for the quarter, compared to analysts’ expectations of $9.96 million. On average, equities research analysts anticipate that Kopin will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Paul Christopher Baker sold 116,860 shares of the business’s stock in a transaction 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 transaction, the chief operating officer owned 480,005 shares of the company’s stock, valued at approximately $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the transaction, the chief executive officer directly owned 2,931,122 shares in the company, valued at $8,207,141.60. This trade represents a 6.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 524,760 shares of company stock valued at $1,763,275. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Kopin

A number of institutional investors and hedge funds have recently bought and sold shares of KOPN. State Street Corp increased its position in Kopin by 224.0% during the fourth quarter. State Street Corp now owns 11,119,885 shares of the company’s stock worth $26,021,000 after acquiring an additional 7,687,358 shares during the period. Telemark Asset Management LLC increased its position in Kopin by 40.0% during the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock worth $16,380,000 after acquiring an additional 2,000,000 shares during the period. Geode Capital Management LLC increased its position in Kopin by 106.8% during the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock worth $5,353,000 after acquiring an additional 1,806,632 shares during the period. CenterBook Partners LP bought a new position in Kopin during the fourth quarter worth $2,925,000. Finally, Vanguard Group Inc. raised its stake in shares of Kopin by 11.2% in the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after purchasing an additional 945,662 shares in the last quarter. Institutional investors 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.