Canaccord Genuity Group Boosts Kopin (NASDAQ:KOPN) Price Target to $3.25

Kopin (NASDAQ:KOPN) had its price objective lifted by investment analysts at Canaccord Genuity Group from $3.00 to $3.25 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 27.20% from the company’s current price.

Several other research analysts have also commented on the company. Craig Hallum assumed coverage on Kopin in a research report on Wednesday, October 22nd. They set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital raised their price objective on shares of Kopin from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a report on Wednesday, October 8th. Stifel Nicolaus initiated coverage on Kopin in a research report on Friday, October 17th. They issued a “buy” rating and a $5.50 price target on the stock. Finally, Wall Street Zen downgraded Kopin from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.69.

Kopin Stock Down 8.4%

Kopin stock traded down $0.24 during midday trading on Thursday, reaching $2.56. The company’s stock had a trading volume of 5,188,916 shares, compared to its average volume of 4,180,545. The company has a market cap of $415.97 million, a P/E ratio of -28.39 and a beta of 2.97. The business has a 50-day simple moving average of $2.98 and a 200-day simple moving average of $2.13. Kopin has a fifty-two week low of $0.71 and a fifty-two week high of $4.16.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $11.96 million for the quarter, compared to analyst estimates of $13.89 million. Kopin had a negative net margin of 29.47% and a negative return on equity of 66.91%. As a group, equities analysts forecast that Kopin will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Kopin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. boosted its position in Kopin by 1.5% during the second quarter. AWM Investment Company Inc. now owns 9,863,887 shares of the company’s stock worth $15,092,000 after acquiring an additional 149,188 shares during the last quarter. Vanguard Group Inc. lifted its position in Kopin by 11.2% during the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock worth $22,784,000 after buying an additional 945,662 shares during the period. Royce & Associates LP boosted its stake in Kopin by 3.3% in the 1st quarter. Royce & Associates LP now owns 7,981,832 shares of the company’s stock worth $7,441,000 after buying an additional 255,450 shares during the last quarter. Telemark Asset Management LLC increased its stake in shares of Kopin by 25.0% during the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company’s stock valued at $12,150,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Kopin by 106.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock worth $5,353,000 after acquiring an additional 1,806,632 shares during the period. 30.96% of the stock is owned by institutional investors and hedge funds.

About Kopin

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.