Kopin (NASDAQ:KOPN) Stock Price Up 7.5% – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s share price was up 7.5% during mid-day trading on Thursday . The company traded as high as $6.05 and last traded at $5.9250. Approximately 3,865,303 shares changed hands during trading, a decline of 29% from the average daily volume of 5,464,129 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KOPN shares. JonesTrading started coverage on Kopin in a research report on Monday, April 27th. They set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital upped their price target on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Zacks Research lowered Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Kopin currently has an average rating of “Moderate Buy” and an average price target of $7.15.

Kopin Price Performance

The business has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $2.86. The stock has a market cap of $1.09 billion, a PE ratio of 597.00 and a beta of 3.40.

Kopin (NASDAQ:KOPN) last issued its earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The firm had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.96 million. As a group, sell-side analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Kopin

In other Kopin news, COO Paul Christopher Baker sold 116,860 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total value of $461,597.00. Following the transaction, the chief operating officer owned 480,005 shares in the company, valued at $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $2.80, for a total value of $526,176.00. Following the completion of the transaction, the chief executive officer owned 2,931,122 shares in the company, valued at $8,207,141.60. This trade represents a 6.02% 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. Insiders sold 524,760 shares of company stock worth $1,763,275 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Kopin

Several large investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new stake in shares of Kopin during the 1st quarter worth about $424,000. Aristides Capital LLC boosted its stake in shares of Kopin by 306.2% during the 1st quarter. Aristides Capital LLC now owns 219,538 shares of the company’s stock worth $494,000 after acquiring an additional 165,494 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Kopin by 66.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 113,345 shares of the company’s stock worth $255,000 after acquiring an additional 45,232 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Kopin during the 1st quarter worth about $146,000. Institutional investors own 30.96% of the company’s stock.

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.