Kopin (NASDAQ:KOPN) Shares Gap Up to $10.45


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Kopin Co. (NASDAQ:KOPN) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.45, but opened at $10.84. Kopin shares last traded at $10.50, with a volume of 20,532 shares.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Kopin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Kopin in a research note on Tuesday, March 9th.

The firm has a market cap of $973.10 million, a price-to-earnings ratio of -69.66 and a beta of 2.45. The stock has a fifty day moving average price of $9.90 and a 200 day moving average price of $4.50.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings data on Monday, March 1st. The company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. The business had revenue of $13.92 million for the quarter, compared to analyst estimates of $9.20 million. Kopin had a negative return on equity of 51.37% and a negative net margin of 37.11%. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, analysts forecast that Kopin Co. will post -0.09 earnings per share for the current fiscal year.

In other Kopin news, Director David Brook sold 299,260 shares of the firm’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $9.57, for a total value of $2,863,918.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard Sneider sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, January 22nd. The shares were sold at an average price of $4.00, for a total value of $180,000.00. Following the completion of the sale, the chief financial officer now directly owns 364,006 shares in the company, valued at approximately $1,456,024. The disclosure for this sale can be found here. In the last three months, insiders have sold 761,332 shares of company stock worth $5,722,125. 8.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KOPN. LPL Financial LLC acquired a new stake in Kopin in the 4th quarter valued at approximately $43,000. Modera Wealth Management LLC acquired a new stake in shares of Kopin during the 4th quarter worth approximately $49,000. KBC Group NV acquired a new stake in shares of Kopin during the 4th quarter worth approximately $62,000. Squarepoint Ops LLC acquired a new stake in shares of Kopin during the 4th quarter worth approximately $77,000. Finally, Virtu Financial LLC acquired a new stake in shares of Kopin during the 4th quarter worth approximately $88,000. 18.78% of the stock is currently owned by hedge funds and other institutional investors.

About Kopin (NASDAQ:KOPN)

Kopin Corporation invents, develops, manufactures, and sells components, subassemblies, head-worn, and hand-held systems 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, application specific integrated circuits, backlights, and optical lenses; and headset systems.

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