Kopin (NASDAQ:KOPN) Shares Down 7% – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s share price traded down 7% on Tuesday . The company traded as low as $4.89 and last traded at $4.8560. 1,217,631 shares traded hands during trading, a decline of 79% from the average session volume of 5,722,297 shares. The stock had previously closed at $5.22.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Canaccord Genuity Group upped their price target on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, 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 report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.15.

Kopin Stock Performance

The stock has a market cap of $899.05 million, a price-to-earnings ratio of 490.99 and a beta of 3.43. The business’s fifty day simple moving average is $4.41 and its 200 day simple moving average is $3.14.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings data 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 return on equity of 4.85% and a net margin of 5.00%.The firm had revenue of $10.55 million during the quarter, compared to analyst estimates of $9.96 million. As a group, analysts forecast that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Transactions at Kopin

In other news, CEO Michael Andrew Murray sold 96,800 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the sale, the chief executive officer owned 2,771,122 shares in the company, valued at approximately $8,341,077.22. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 58,939 shares of the company’s stock in a transaction dated 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 owned 420,025 shares in the company, valued at approximately $2,058,122.50. This trade represents a 12.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 524,760 shares of company stock worth $1,763,275. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Kopin

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after purchasing an additional 3,243 shares in the last quarter. Focused Wealth Management Inc raised its stake in shares of Kopin by 2.4% in the 4th quarter. Focused Wealth Management Inc now owns 212,444 shares of the company’s stock valued at $497,000 after purchasing an additional 5,000 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Kopin by 4.0% in the 4th quarter. Deutsche Bank AG now owns 155,175 shares of the company’s stock valued at $363,000 after purchasing an additional 5,902 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Kopin by 13.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 68,113 shares of the company’s stock worth $159,000 after acquiring an additional 7,971 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Kopin by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 200,518 shares of the company’s stock worth $470,000 after acquiring an additional 9,921 shares during the period. Institutional investors and hedge funds 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.