Kopin (NASDAQ:KOPN) Trading Up 8.6% – Still a Buy?

Kopin Corporation (NASDAQ:KOPN) shares traded up 8.6% during mid-day trading on Wednesday . The stock traded as high as $4.72 and last traded at $4.7440. 1,741,312 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 5,379,539 shares. The stock had previously closed at $4.37.

Analyst Ratings Changes

A number of research firms have recently weighed in on KOPN. Craig Hallum reaffirmed a “buy” rating and set a $10.00 price target on shares of Kopin in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. Stifel Nicolaus upped their price target on shares of Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Lake Street Capital upped their price target on shares of Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Kopin from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kopin has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Performance

The firm’s 50-day moving average is $3.16 and its 200 day moving average is $2.78. The firm has a market capitalization of $856.98 million, a PE ratio of 469.97 and a beta of 3.40.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data 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 return on equity of 4.85% and a net margin of 5.00%.The business had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.96 million. As a group, equities analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current year.

Insider Transactions at Kopin

In other news, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $2.80, for a total transaction of $526,176.00. Following the transaction, the chief executive officer directly owned 2,931,122 shares in the company, valued at $8,207,141.60. This represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 dated 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 owned 480,005 shares in the company, valued at approximately $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 524,760 shares of company stock worth $1,763,275. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KOPN. EWA LLC purchased a new position in shares of Kopin during the 4th quarter worth about $25,000. Prudential Financial Inc. purchased a new position in shares of Kopin during the 2nd quarter worth about $25,000. Legal & General Group Plc purchased a new position in shares of Kopin during the 2nd quarter worth about $25,000. Cibc World Markets Corp purchased a new position in shares of Kopin during the 4th quarter worth about $28,000. Finally, 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 period. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

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.