Kopin (NASDAQ:KOPN) Stock Jumps 7.1% – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s share price shot up 7.1% during trading on Monday. The company traded as high as $3.46 and last traded at $3.5250. 824,351 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 5,139,846 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

KOPN has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a research note on Friday, August 14th. Stifel Nicolaus set a $6.50 target price on shares of Kopin in a research report on Friday, September 25th. Wall Street Zen raised Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Oppenheimer initiated coverage on shares of Kopin in a report on Thursday, September 17th. They issued an “outperform” rating and a $7.00 target price on the stock. Finally, Weiss Ratings raised shares of Kopin from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kopin has a consensus rating of “Moderate Buy” and an average target price of $7.17.

Kopin Stock Performance

The company’s 50 day moving average price is $4.55 and its 200 day moving average price is $4.34. The company has a market cap of $637.53 million, a price-to-earnings ratio of 88.88 and a beta of 3.59.

Institutional Trading of Kopin

A number of institutional investors and hedge funds have recently modified their holdings of KOPN. Principal Financial Group Inc. boosted its position in shares of Kopin by 30.7% in the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after acquiring an additional 3,243 shares during the period. Private Advisor Group LLC acquired a new position in Kopin in the first quarter worth about $32,000. Meeder Asset Management Inc. bought a new position in Kopin during the second quarter worth about $33,000. Quantbot Technologies LP bought a new position in Kopin during the second quarter worth about $39,000. Finally, Allworth Financial LP acquired a new stake in Kopin during the second quarter valued at approximately $41,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.

About Kopin

Kopin Corporation (NASDAQ: KOPN) develops and supplies wearable computing technologies, including microdisplays, optical systems and related components. Its products are designed for applications that require compact, high-resolution displays and hands-free access to information.

The company’s offerings have included liquid crystal, OLED and other microdisplay technologies, as well as display modules, lenses and customized optical systems. Kopin serves defense and aerospace, industrial, medical and consumer electronics markets, with products intended for applications such as head-mounted displays, night vision, thermal imaging, training systems and wearable computing devices.

Founded in 1984, Kopin is headquartered in Westborough, Massachusetts, and sells its technologies to customers and partners in the United States and international markets.