Kopin (NASDAQ:KOPN) Hits New 52-Week High on Better-Than-Expected Earnings

Kopin Corporation (NASDAQ:KOPN)’s share price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $6.45 and last traded at $5.8470, with a volume of 9093260 shares changing hands. The stock had previously closed at $4.97.

The company reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $999.01. Kopin had a net margin of 6.63% and a return on equity of 8.53%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Lake Street Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of Kopin in a report on Wednesday, April 29th. Wall Street Zen upgraded Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Kopin in a report on Thursday, January 22nd. JonesTrading initiated coverage on Kopin in a report on Monday, April 27th. They set a “buy” rating and a $6.00 target price for the company. Finally, Canaccord Genuity Group began coverage on Kopin in a research report on Friday. They set a “buy” rating and a $5.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kopin presently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

Insider Buying and Selling at Kopin

In related news, COO Paul Christopher Baker sold 58,939 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total transaction of $288,801.10. Following the completion of the transaction, the chief operating officer directly owned 420,025 shares in the company, valued at $2,058,122.50. The trade was a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the completion of the sale, the chief executive officer directly owned 2,771,122 shares in the company, valued at approximately $8,341,077.22. The trade was a 3.38% 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. Insiders have sold 524,760 shares of company stock valued at $1,763,275 in the last three months. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kopin

Several hedge funds have recently bought and sold shares of the stock. EWA LLC purchased a new position in Kopin in the 4th quarter worth approximately $25,000. Cibc World Markets Corp purchased a new stake in shares of Kopin during the 4th quarter valued at $28,000. Russell Investments Group Ltd. bought a new stake in shares of Kopin during the 3rd quarter worth $33,000. Principal Financial Group Inc. lifted its holdings in shares of Kopin by 30.7% during the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock worth $31,000 after acquiring an additional 3,243 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new position in Kopin in the first quarter worth $32,000. 30.96% of the stock is currently owned by institutional investors.

Kopin Price Performance

The stock has a 50 day moving average of $2.83 and a 200 day moving average of $2.72. The firm has a market cap of $1.03 billion, a P/E ratio of 552.15 and a beta of 3.40.

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.