Kopin (NASDAQ:KOPN) Trading Down 9.8% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPNGet Free Report)’s share price dropped 9.8% on Tuesday . The company traded as low as $4.11 and last traded at $4.12. 5,209,828 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 5,841,740 shares. The stock had previously closed at $4.57.

Analyst Ratings Changes

KOPN has been the subject of several recent analyst reports. Lake Street Capital boosted their target price on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Kopin from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. Zacks Research lowered Kopin from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Canaccord Genuity Group boosted their price objective on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised 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 issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.15.

View Our Latest Report on Kopin

Kopin Stock Performance

The business’s fifty day moving average is $4.63 and its two-hundred day moving average is $3.22. The company has a market cap of $753.63 million, a P/E ratio of 412.41 and a beta of 3.43.

Kopin (NASDAQ:KOPNGet 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 the consensus estimate of ($0.01) by ($0.01). The company had revenue of $10.55 million during the quarter, compared to analysts’ expectations of $9.96 million. Kopin had a net margin of 5.00% and a return on equity of 4.85%. Analysts expect that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Kopin news, COO Paul Christopher Baker sold 58,939 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total transaction of $288,801.10. Following the transaction, the chief operating officer directly owned 420,025 shares in the company, valued at $2,058,122.50. This trade represents a 12.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of Kopin 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 directly owned 2,771,122 shares of the company’s stock, valued at approximately $8,341,077.22. This trade represents a 3.38% decrease in their ownership of the stock. 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 524,760 shares of company stock valued at $1,763,275 in the last quarter. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kopin

Several institutional investors have recently made changes to their positions in KOPN. EWA LLC bought a new stake in shares of Kopin in the fourth quarter valued at about $25,000. Prudential Financial Inc. bought a new position in Kopin during the 2nd quarter worth about $25,000. Legal & General Group Plc purchased a new position in Kopin during the 2nd quarter valued at about $25,000. Cibc World Markets Corp purchased a new position in Kopin during the 4th quarter valued at about $28,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after purchasing an additional 3,243 shares in the last quarter. Hedge funds and other institutional investors own 30.96% of the company’s stock.

Kopin Company Profile

(Get Free Report)

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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