Kopin (NASDAQ:KOPN) Sets New 12-Month High – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $4.88 and last traded at $4.47, with a volume of 15298317 shares trading hands. The stock had previously closed at $4.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a research note on Thursday, January 22nd. Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Zacks Research upgraded Kopin from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. JonesTrading started coverage on Kopin in a report on Monday, April 27th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Lake Street Capital reissued a “buy” rating and set a $5.00 price target on shares of Kopin in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.15.

Kopin Stock Up 3.4%

The firm has a market capitalization of $900.30 million, a P/E ratio of 491.49 and a beta of 3.40. The company’s 50 day moving average is $2.66 and its 200-day moving average is $2.69.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings data on Monday, April 13th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $8.37 million for the quarter, compared to analyst estimates of $12.98 million. Kopin had a net margin of 6.63% and a return on equity of 8.53%. On average, analysts predict that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Paul Christopher Baker sold 116,860 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total transaction of $461,597.00. Following the transaction, the chief operating officer directly owned 480,005 shares of the company’s stock, valued at $1,896,019.75. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total value of $526,176.00. Following the completion of the transaction, the chief executive officer owned 2,931,122 shares in the company, valued at approximately $8,207,141.60. This represents a 6.02% decrease in their ownership of the stock. 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 ninety days, insiders have sold 465,821 shares of company stock worth $1,474,474. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KOPN. Herald Investment Management Ltd grew its holdings in Kopin by 30.3% during the third quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,860,000 after buying an additional 465,000 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Kopin during the 3rd quarter valued at $976,000. Telemark Asset Management LLC lifted its stake in Kopin by 25.0% during the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company’s stock valued at $12,150,000 after acquiring an additional 1,000,000 shares in the last quarter. DNB Asset Management AS boosted its holdings in Kopin by 144.1% during the 3rd quarter. DNB Asset Management AS now owns 579,945 shares of the company’s stock worth $1,409,000 after acquiring an additional 342,389 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Kopin in the 3rd quarter worth $729,000. 30.96% of the stock is owned by institutional investors.

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.