Kopin (NASDAQ:KOPN) Stock Price Down 9.8% – Here’s Why

Kopin Corporation (NASDAQ:KOPN) shares dropped 9.8% during mid-day trading on Tuesday . The company traded as low as $4.11 and last traded at $4.12. 5,209,828 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 5,841,740 shares. The stock had previously closed at $4.57.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KOPN shares. Weiss Ratings cut Kopin from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 target price on shares of Kopin in a research note on Tuesday, May 12th. Canaccord Genuity Group increased their price target on shares of Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research report on Thursday, May 14th. Lake Street Capital increased their price target on shares of Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Five 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 MarketBeat, Kopin presently has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Up 1.6%

The firm’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $3.24. The firm has a market capitalization of $715.40 million, a PE ratio of 393.99 and a beta of 3.43.

Kopin (NASDAQ:KOPN) last released 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 company had revenue of $10.55 million during the quarter, compared to the consensus estimate of $9.96 million. Kopin had a net margin of 5.00% and a return on equity of 4.85%. On average, equities research analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the chief executive officer owned 2,771,122 shares of the company’s stock, valued at $8,341,077.22. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Kopin stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total value of $288,801.10. Following the completion of the transaction, the chief operating officer directly owned 420,025 shares of the company’s stock, valued at approximately $2,058,122.50. This 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. Over the last three months, insiders sold 524,760 shares of company stock worth $1,763,275. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Kopin

A number of hedge funds have recently added to or reduced their stakes in the stock. EWA LLC purchased a new stake in shares of Kopin during the 4th quarter valued at about $25,000. Prudential Financial Inc. bought a new position in Kopin in the second quarter worth approximately $25,000. Legal & General Group Plc purchased a new position in shares of Kopin during the 2nd quarter worth $25,000. Cibc World Markets Corp purchased a new stake in shares of Kopin in the 4th quarter worth $28,000. Finally, Principal Financial Group Inc. raised its holdings in Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock worth $31,000 after purchasing an additional 3,243 shares during the period. 30.96% of the stock is currently owned by hedge funds and other 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.