Kopin Corporation (NASDAQ:KOPN – Get Free Report) was up 10.5% on Thursday . The stock traded as high as $5.09 and last traded at $5.0850. Approximately 4,718,608 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 5,753,849 shares. The stock had previously closed at $4.60.
Analysts Set New Price Targets
Several equities research analysts have weighed in on KOPN shares. Stifel Nicolaus increased their target price on Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings raised Kopin from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. JonesTrading started coverage on Kopin in a report on Monday, April 27th. They set a “buy” rating and a $6.00 price target on the stock. Craig Hallum reissued a “buy” rating and set a $10.00 price target on shares of Kopin in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group raised their price target on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kopin currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.15.
Get Our Latest Analysis on Kopin
Kopin Stock Down 3.7%
Kopin (NASDAQ:KOPN – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The firm had revenue of $10.55 million for the quarter, compared to the consensus estimate of $9.96 million. Research analysts expect that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total value of $526,176.00. Following the completion of the transaction, the chief executive officer owned 2,931,122 shares in the company, valued at $8,207,141.60. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 116,860 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total value of $461,597.00. Following the completion of the transaction, the chief operating officer owned 480,005 shares of the company’s stock, valued at $1,896,019.75. This trade represents a 19.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 524,760 shares of company stock valued at $1,763,275 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Kopin
A number of hedge funds and other institutional investors have recently modified their holdings of KOPN. Polar Asset Management Partners Inc. purchased a new stake in Kopin in the 1st quarter worth about $424,000. Aristides Capital LLC lifted its stake in Kopin by 306.2% in the 1st quarter. Aristides Capital LLC now owns 219,538 shares of the company’s stock worth $494,000 after acquiring an additional 165,494 shares in the last quarter. Principal Financial Group Inc. lifted its stake 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 acquiring an additional 3,243 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Kopin by 66.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 113,345 shares of the company’s stock worth $255,000 after acquiring an additional 45,232 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Kopin in the 1st quarter worth about $146,000. Institutional investors and hedge funds 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.
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