Kopin (NASDAQ:KOPN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.09 and traded as high as $2.88. Kopin shares last traded at $2.84, with a volume of 3,158,208 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KOPN. Canaccord Genuity Group upped their price target on shares of Kopin from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Stifel Nicolaus initiated coverage on shares of Kopin in a report on Friday, October 17th. They issued a “buy” rating and a $5.50 target price for the company. Lake Street Capital raised their price target on Kopin from $2.50 to $3.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Craig Hallum started coverage on Kopin in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kopin presently has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Kopin Stock Performance

The firm has a market cap of $462.37 million, a P/E ratio of -31.56 and a beta of 2.98. The firm’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $2.09.

Kopin (NASDAQ:KOPN) last posted its earnings results on Tuesday, August 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Kopin had a negative return on equity of 66.91% and a negative net margin of 29.47%.The firm had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $10.57 million. On average, equities research analysts predict that Kopin Corporation will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Telemark Asset Management LLC purchased a new stake in Kopin during the first quarter valued at $2,797,000. Geode Capital Management LLC increased its holdings in shares of Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock worth $5,353,000 after buying an additional 1,806,632 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Kopin during the 2nd quarter valued at about $1,834,000. Vanguard Group Inc. lifted its holdings in shares of Kopin by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after acquiring an additional 945,662 shares during the last quarter. Finally, Herald Investment Management Ltd grew its position in Kopin by 30.3% in the third quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,860,000 after acquiring an additional 465,000 shares in the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

Kopin Company Profile

Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products.