Kopin Corporation (NASDAQ:KOPN – Get Free Report) shares dropped 7% on Tuesday . The stock traded as low as $4.89 and last traded at $4.8560. Approximately 1,217,631 shares were traded during trading, a decline of 79% from the average daily volume of 5,722,297 shares. The stock had previously closed at $5.22.
Analysts Set New Price Targets
KOPN has been the topic of several research reports. Weiss Ratings upgraded shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Craig Hallum reiterated a “buy” rating and set a $10.00 price objective on shares of Kopin in a research note on Tuesday, May 12th. JonesTrading initiated coverage on shares of Kopin in a research note on Monday, April 27th. They set a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Stifel Nicolaus upped their target price on shares of Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.15.
Get Our Latest Report on Kopin
Kopin Trading Down 5.8%
Kopin (NASDAQ:KOPN – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The firm had revenue of $10.55 million during the quarter, compared to the consensus estimate of $9.96 million. On average, analysts anticipate that Kopin Corporation will post -0.02 EPS for the current year.
Insider Activity
In other Kopin news, 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 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 approximately $8,207,141.60. This represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 524,760 shares of company stock valued at $1,763,275. 2.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in KOPN. Geode Capital Management LLC boosted its holdings in shares of Kopin by 106.8% in the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after acquiring an additional 1,806,632 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kopin by 113,958.1% in the second quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company’s stock valued at $108,000 after acquiring an additional 70,654 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Kopin in the second quarter valued at approximately $25,000. Rhumbline Advisers bought a new position in shares of Kopin in the second quarter valued at approximately $259,000. Finally, Prudential Financial Inc. bought a new position in shares of Kopin in the second quarter valued at approximately $25,000. 30.96% of the stock is currently owned by 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.
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