Kopin (NASDAQ:KOPN) Stock Price Down 6.8% – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s share price was down 6.8% during mid-day trading on Wednesday . The stock traded as low as $2.96 and last traded at $2.9450. Approximately 1,478,181 shares traded hands during trading, a decline of 62% from the average daily volume of 3,897,098 shares. The stock had previously closed at $3.16.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KOPN shares. Wall Street Zen upgraded shares of Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Stifel Nicolaus began coverage on shares of Kopin in a research report on Friday, October 17th. They set a “buy” rating and a $5.50 price target on the stock. Craig Hallum began coverage on Kopin in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price objective for the company. Lake Street Capital boosted their price objective on Kopin from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.69.

Kopin Stock Down 5.1%

The company has a market cap of $547.54 million, a PE ratio of -75.00 and a beta of 2.70. The company has a 50-day moving average of $2.58 and a 200-day moving average of $2.52.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%.The business had revenue of $11.96 million for the quarter, compared to analysts’ expectations of $13.89 million. As a group, equities analysts predict that Kopin Corporation will post -0.14 EPS for the current year.

Institutional Trading of Kopin

Several institutional investors and hedge funds have recently bought and sold shares of KOPN. AE Wealth Management LLC lifted its stake in shares of Kopin by 68.7% in the 3rd quarter. AE Wealth Management LLC now owns 16,873 shares of the company’s stock valued at $41,000 after acquiring an additional 6,873 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Kopin by 19.0% during the second quarter. Fisher Asset Management LLC now owns 65,875 shares of the company’s stock valued at $101,000 after buying an additional 10,515 shares during the period. Bravias Capital Group LLC bought a new position in shares of Kopin in the 3rd quarter worth approximately $32,000. Russell Investments Group Ltd. bought a new stake in shares of Kopin during the 3rd quarter valued at $33,000. Finally, Prudential Financial Inc. purchased a new stake in Kopin in the second quarter worth about $25,000. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Kopin Company Profile

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.