Kopin Corporation (NASDAQ:KOPN – Get Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.76, but opened at $4.20. Kopin shares last traded at $4.2050, with a volume of 1,530,667 shares.
Analysts Set New Price Targets
A number of brokerages recently issued reports on KOPN. Zacks Research lowered 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 report on Monday, July 6th. Canaccord Genuity Group raised 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. Craig Hallum restated a “buy” rating and set a $10.00 price objective on shares of Kopin in a report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Five 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 MarketBeat.com, Kopin has an average rating of “Moderate Buy” and a consensus target price of $7.15.
Read Our Latest Stock Analysis on KOPN
Kopin Stock Performance
Kopin (NASDAQ:KOPN – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $10.55 million for 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%. Sell-side analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Kopin news, CEO Michael Andrew Murray sold 96,800 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,341,077.22. The trade was a 3.38% decrease in their position. The sale 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. Also, COO Paul Christopher Baker sold 58,939 shares of the stock in a transaction on 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 transaction, the chief operating officer 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 273,640 shares of company stock worth $1,046,867 in the last quarter. Corporate insiders own 2.60% of the company’s stock.
Institutional Trading of Kopin
Several institutional investors have recently made changes to their positions in KOPN. EWA LLC acquired a new stake in shares of Kopin during the 4th quarter valued at about $25,000. Cibc World Markets Corp acquired a new position in Kopin in the fourth quarter worth about $28,000. Russell Investments Group Ltd. acquired a new position in Kopin in the third quarter worth about $33,000. Principal Financial Group Inc. lifted its stake in Kopin by 30.7% during the first 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. Finally, Private Advisor Group LLC bought a new position in Kopin during the first quarter worth about $32,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.
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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