Kopin (NASDAQ:KOPN) CEO Michael Andrew Murray Sells 187,920 Shares of Stock

Kopin Corporation (NASDAQ:KOPN) CEO Michael Andrew Murray sold 187,920 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $2.80, for a total transaction of $526,176.00. Following the completion of the transaction, the chief executive officer owned 2,931,122 shares in the company, valued at approximately $8,207,141.60. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kopin Trading Up 7.4%

NASDAQ:KOPN opened at $2.92 on Thursday. The firm has a market cap of $535.41 million, a price-to-earnings ratio of 292.29 and a beta of 2.73. The company’s 50-day moving average is $2.29 and its two-hundred day moving average is $2.65. Kopin Corporation has a 12-month low of $0.81 and a 12-month high of $4.16.

Kopin (NASDAQ:KOPN) last released its earnings results on Monday, April 13th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $8.37 million for the quarter, compared to analyst estimates of $12.98 million. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%. On average, equities research analysts forecast that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on KOPN. Wall Street Zen lowered shares of Kopin from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Kopin in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kopin currently has an average rating of “Moderate Buy” and a consensus target price of $4.69.

Hedge Funds Weigh In On Kopin

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Kopin by 91.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 33,715 shares of the company’s stock worth $79,000 after purchasing an additional 16,063 shares during the period. Aristides Capital LLC purchased a new position in shares of Kopin in the 4th quarter worth about $126,000. Virtu Financial LLC raised its holdings in shares of Kopin by 127.8% in the 4th quarter. Virtu Financial LLC now owns 30,926 shares of the company’s stock worth $72,000 after purchasing an additional 17,350 shares during the period. Invesco Ltd. raised its holdings in shares of Kopin by 538.5% in the 4th quarter. Invesco Ltd. now owns 704,951 shares of the company’s stock worth $1,650,000 after purchasing an additional 594,546 shares during the period. Finally, Toronto Dominion Bank purchased a new position in shares of Kopin in the 4th quarter worth about $165,000. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

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.