Kopin (NASDAQ:KOPN) Shares Down 15.4% – Here’s Why

Kopin Corporation (NASDAQ:KOPN) traded down 15.4% during trading on Friday . The company traded as low as $5.50 and last traded at $5.4060. 5,361,172 shares traded hands during trading, a decline of 5% from the average session volume of 5,672,402 shares. The stock had previously closed at $6.39.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. JonesTrading assumed coverage on shares of Kopin in a research note on Monday, April 27th. They set a “buy” rating and a $6.00 price objective on the stock. Craig Hallum reiterated a “buy” rating and set a $10.00 price objective on shares of Kopin in a research note on Tuesday, May 12th. Lake Street Capital raised their price objective on shares of Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Zacks Research cut shares of Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Kopin Price Performance

The stock has a market capitalization of $998.74 million, a P/E ratio of 546.55 and a beta of 3.43. The stock’s fifty day moving average is $4.06 and its two-hundred day moving average is $3.02.

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

Insider Buying and Selling

In related news, COO Paul Christopher Baker sold 58,939 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total transaction of $288,801.10. Following the completion of the sale, the chief operating officer directly owned 420,025 shares in the company, valued at approximately $2,058,122.50. This trade represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $3.01, for a total transaction of $291,368.00. Following the sale, the chief executive officer owned 2,771,122 shares of the company’s stock, valued at $8,341,077.22. The trade was a 3.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 524,760 shares of company stock valued at $1,763,275 over the last 90 days. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kopin

Several hedge funds have recently made changes to their positions in KOPN. State Street Corp lifted its position in shares of Kopin by 224.0% in the 4th quarter. State Street Corp now owns 11,119,885 shares of the company’s stock valued at $26,021,000 after acquiring an additional 7,687,358 shares in the last quarter. Telemark Asset Management LLC lifted its position in shares of Kopin by 40.0% in the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after acquiring an additional 2,000,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after acquiring an additional 1,806,632 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Kopin in the 4th quarter valued at approximately $2,925,000. Finally, Vanguard Group Inc. lifted its position in shares of Kopin by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after acquiring an additional 945,662 shares in the last quarter. 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.