Kopin (NASDAQ:KOPN) Posts Quarterly Earnings Results

Kopin (NASDAQ:KOPN) released its quarterly earnings data on Wednesday. The company reported $0.02 EPS for the quarter, Zacks reports. Kopin had a negative return on equity of 66.91% and a negative net margin of 29.47%.

Kopin Price Performance

KOPN stock traded up $0.03 on Wednesday, hitting $2.83. 5,087,780 shares of the company were exchanged, compared to its average volume of 4,168,971. The stock has a market capitalization of $459.93 million, a price-to-earnings ratio of -31.39 and a beta of 2.97. Kopin has a twelve month low of $0.70 and a twelve month high of $4.16. The business’s fifty day moving average is $2.97 and its two-hundred day moving average is $2.13.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KOPN. Wall Street Zen downgraded shares of Kopin from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Lake Street Capital boosted their price objective on shares of Kopin from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Canaccord Genuity Group upped their price objective on Kopin from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Stifel Nicolaus initiated coverage on shares of Kopin in a research report on Friday, October 17th. They set a “buy” rating and a $5.50 price target for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.10.

Hedge Funds Weigh In On Kopin

Hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new stake in Kopin in the 2nd quarter valued at $25,000. Legal & General Group Plc purchased a new stake in shares of Kopin during the 2nd quarter valued at about $25,000. Bank of America Corp DE lifted its position in Kopin by 2,303.5% during the 2nd quarter. Bank of America Corp DE now owns 49,008 shares of the company’s stock worth $75,000 after acquiring an additional 46,969 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Kopin in the 2nd quarter worth approximately $87,000. Finally, New York State Common Retirement Fund acquired a new stake in Kopin in the second quarter valued at approximately $95,000. Hedge funds and other institutional investors own 30.96% of the company’s stock.

Kopin Company Profile

Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products.