Kopin (NASDAQ:KOPN) Trading 8.5% Higher – What’s Next?

Kopin Corporation (NASDAQ:KOPN) shares were up 8.5% on Monday . The stock traded as high as $4.21 and last traded at $4.1450. Approximately 2,481,305 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 5,897,825 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Kopin in a research report on Tuesday, May 12th. Canaccord Genuity Group upped their price objective on Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings lowered Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. Finally, Lake Street Capital lifted their target price on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kopin has an average rating of “Moderate Buy” and a consensus price target of $7.15.

Kopin Trading Up 3.7%

The company has a market cap of $819.48 million, a P/E ratio of 448.45 and a beta of 3.43. The firm’s 50 day moving average price is $4.77 and its 200-day moving average price is $3.28.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The business had revenue of $10.55 million for the quarter, compared to the consensus estimate of $9.96 million. Analysts predict that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Paul Christopher Baker sold 116,860 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total value of $461,597.00. Following the transaction, the chief operating officer directly owned 480,005 shares in the company, valued at $1,896,019.75. This trade represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Kopin 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 sale, the chief executive officer directly owned 2,931,122 shares of the company’s stock, valued at approximately $8,207,141.60. This trade 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. In the last three months, insiders sold 524,760 shares of company stock worth $1,763,275. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Kopin

A number of institutional investors and hedge funds have recently modified their holdings of KOPN. State Street Corp boosted its stake in Kopin by 224.0% during the 4th 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 last quarter. Vanguard Group Inc. increased its stake in 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. Telemark Asset Management LLC raised its holdings in Kopin by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock worth $16,380,000 after purchasing an additional 2,000,000 shares during the period. Geode Capital Management LLC raised its holdings in Kopin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,306,623 shares of the company’s stock worth $10,080,000 after purchasing an additional 544,189 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Kopin by 40.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,663,821 shares of the company’s stock worth $4,143,000 after purchasing an additional 481,268 shares in the last quarter. 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.