Kopin (NASDAQ:KOPN) Reaches New 12-Month High – Here’s What Happened

Shares of Kopin Corporation (NASDAQ:KOPN) reached a new 52-week high during trading on Wednesday . The stock traded as high as $4.63 and last traded at $4.00, with a volume of 40917015 shares changing hands. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KOPN. Lake Street Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Kopin in a research report on Wednesday. Zacks Research upgraded shares of Kopin from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen lowered shares of Kopin from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Kopin in a research report on Thursday, January 22nd. Finally, JonesTrading began coverage on shares of Kopin in a research report on Monday. They set a “buy” rating and a $6.00 target price 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 stock. According to MarketBeat, Kopin has an average rating of “Moderate Buy” and an average target price of $5.15.

Kopin Price Performance

The stock’s 50-day moving average is $2.56 and its 200-day moving average is $2.69. The stock has a market cap of $817.79 million, a price-to-earnings ratio of 446.45 and a beta of 2.73.

Kopin (NASDAQ:KOPN) last announced its earnings results on Monday, April 13th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Kopin had a net margin of 6.63% and a return on equity of 8.53%. The firm had revenue of $8.37 million for the quarter, compared to analyst estimates of $12.98 million. Analysts predict that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Kopin news, CEO Michael Andrew Murray sold 96,800 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $3.01, for a total transaction of $291,368.00. Following the transaction, the chief executive officer owned 2,771,122 shares of the company’s stock, valued at $8,341,077.22. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 116,860 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total transaction of $461,597.00. Following the transaction, the chief operating officer directly owned 480,005 shares in the company, valued at approximately $1,896,019.75. This represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 464,780 shares of company stock worth $1,469,373. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kopin

Large investors have recently bought and sold shares of the stock. Herald Investment Management Ltd raised its stake in Kopin by 30.3% during the third 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 period. Telemark Asset Management LLC raised its stake in Kopin by 25.0% during the third quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company’s stock worth $12,150,000 after purchasing an additional 1,000,000 shares during the period. Tudor Investment Corp ET AL purchased a new position in Kopin during the third quarter worth approximately $976,000. DNB Asset Management AS raised its stake in Kopin by 144.1% during the third quarter. DNB Asset Management AS now owns 579,945 shares of the company’s stock worth $1,409,000 after purchasing an additional 342,389 shares during the period. Finally, Wesbanco Bank Inc. purchased a new position in Kopin during the third quarter worth approximately $729,000. Hedge funds and other institutional investors 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.