Kopin Co. (KOPN) Shares Gap Up to $4.28

Kopin Co. (NASDAQ:KOPN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.19, but opened at $4.28. Kopin shares last traded at $4.52, with a volume of 2,071,456 shares traded.

KOPN has been the topic of several recent research reports. BidaskClub cut Kopin from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a “hold” rating on shares of Kopin in a research report on Tuesday, August 8th.

The stock has a 50 day moving average of $3.86 and a 200-day moving average of $3.81. The company’s market cap is $326.29 million.

Kopin (NASDAQ:KOPN) last announced its earnings results on Tuesday, August 8th. The semiconductor company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $5.93 million during the quarter. Kopin had a negative return on equity of 37.98% and a negative net margin of 122.49%. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, equities research analysts anticipate that Kopin Co. will post ($0.33) earnings per share for the current year.

In other news, CFO Richard Sneider sold 65,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $4.00, for a total value of $260,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,138 shares in the company, valued at approximately $1,168,552. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bor Yeu Tsaur sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $4.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now owns 609,966 shares of the company’s stock, valued at $2,439,864. The disclosure for this sale can be found here. 8.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. boosted its holdings in shares of Kopin by 1.1% in the 2nd quarter. AWM Investment Company Inc. now owns 6,675,282 shares of the semiconductor company’s stock worth $24,765,000 after purchasing an additional 74,248 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Kopin by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,652 shares of the semiconductor company’s stock worth $222,000 after purchasing an additional 3,082 shares in the last quarter. State Street Corp boosted its holdings in shares of Kopin by 7.0% in the 2nd quarter. State Street Corp now owns 1,446,122 shares of the semiconductor company’s stock worth $5,365,000 after purchasing an additional 94,289 shares in the last quarter. ETF Managers Group LLC purchased a new position in shares of Kopin in the 2nd quarter worth about $222,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Kopin by 16.9% in the 2nd quarter. Voya Investment Management LLC now owns 40,410 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,856 shares in the last quarter. Hedge funds and other institutional investors own 47.16% of the company’s stock.

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About Kopin

Kopin Corporation is a developer, manufacturer and seller of Wearable technologies, which include components and systems. The Company’s segments are Forth Dimension Displays Ltd. (FDD), the manufacturer of its reflective display products for test and simulation products, and Kopin, which consists of Kopin Corporation, Kowon, Kopin Software Ltd.

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