Kopin (NASDAQ:KOPN) Downgraded by Zacks Research to “Hold”

Kopin (NASDAQ:KOPN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on KOPN. Weiss Ratings lowered shares of Kopin from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Canaccord Genuity Group upped their price objective on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Lake Street Capital upped their price objective on shares of Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Craig Hallum reiterated a “buy” rating and issued a $10.00 price objective on shares of Kopin in a research report on Tuesday, May 12th. Finally, JonesTrading initiated coverage on shares of Kopin in a research report on Monday, April 27th. They issued a “buy” rating and a $6.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kopin presently has an average rating of “Moderate Buy” and an average target price of $7.15.

Kopin Stock Performance

NASDAQ:KOPN opened at $5.51 on Tuesday. Kopin has a one year low of $1.23 and a one year high of $6.45. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 551.55 and a beta of 3.40. The firm’s fifty day moving average is $3.52 and its two-hundred day moving average is $2.86.

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

Insider Transactions at Kopin

In other Kopin news, COO Paul Christopher Baker sold 116,860 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total value of $461,597.00. Following the completion of the transaction, the chief operating officer owned 480,005 shares in the company, valued at approximately $1,896,019.75. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 company’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the completion of the transaction, the chief executive officer 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 position. 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 quarter, insiders sold 524,760 shares of company stock valued at $1,763,275. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of 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 purchasing an additional 7,687,358 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kopin by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock worth $22,784,000 after purchasing an additional 945,662 shares during the last quarter. Telemark Asset Management LLC raised its position in shares of Kopin by 40.0% during the 4th 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 last quarter. Geode Capital Management LLC raised its position in shares of Kopin by 14.5% during the 4th 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 last quarter. Finally, Herald Investment Management Ltd raised its position in shares of Kopin by 30.3% during the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,860,000 after purchasing an additional 465,000 shares during the last quarter. Institutional investors and hedge funds own 30.96% of the company’s stock.

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.