Kopin (NASDAQ:KOPN) Shares Up 9.9% – Here’s Why

Shares of Kopin Corporation (NASDAQ:KOPN) rose 9.9% during trading on Thursday . The stock traded as high as $2.87 and last traded at $2.9020. Approximately 932,326 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 2,007,320 shares. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

KOPN has been the subject of a number of analyst reports. Stifel Nicolaus assumed coverage on Kopin in a report on Friday, October 17th. They set a “buy” rating and a $5.50 price objective for the company. Canaccord Genuity Group lifted their price target on shares of Kopin from $3.00 to $3.25 and gave the company a “buy” rating in a report on Thursday, November 13th. Lake Street Capital upped their price objective on shares of Kopin from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Craig Hallum started coverage on shares of Kopin in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.69.

Kopin Price Performance

The stock has a market cap of $542.97 million, a price-to-earnings ratio of -73.88 and a beta of 2.70. The firm has a 50 day simple moving average of $2.58 and a two-hundred day simple moving average of $2.42.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $11.96 million during the quarter, compared to analyst estimates of $13.89 million. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%. On average, sell-side analysts expect that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Kopin

Large investors have recently bought and sold shares of the business. O Connor Financial Group LLC bought a new position in Kopin in the second quarter valued at approximately $32,000. Silverberg Bernstein Capital Management LLC lifted its position in Kopin by 43.7% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 1,059,709 shares of the company’s stock valued at $1,621,000 after acquiring an additional 322,205 shares in the last quarter. PFG Investments LLC bought a new stake in Kopin in the 2nd quarter valued at $245,000. Sequoia Financial Advisors LLC bought a new position in Kopin during the 2nd quarter worth about $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Kopin in the 2nd quarter valued at about $1,834,000. 30.96% of the stock is owned by institutional investors.

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.