Kopin (NASDAQ:KOPN) Stock Price Down 6.8% – Time to Sell?

Kopin Corporation (NASDAQ:KOPN)’s stock price was down 6.8% during mid-day trading on Wednesday . The company traded as low as $2.96 and last traded at $2.9450. Approximately 1,478,181 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 3,897,098 shares. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KOPN shares. Canaccord Genuity Group boosted their price target on Kopin from $3.00 to $3.25 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Craig Hallum started coverage on Kopin in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price objective on the stock. Stifel Nicolaus started coverage on 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 increased their price target on Kopin from $3.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.69.

Kopin Stock Performance

The stock has a market capitalization of $547.54 million, a price-to-earnings ratio of -75.00 and a beta of 2.70. The firm’s fifty day simple moving average is $2.58 and its 200 day simple moving average is $2.52.

Kopin (NASDAQ:KOPN) last released its earnings results on Wednesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%.The business had revenue of $11.96 million for the quarter, compared to the consensus estimate of $13.89 million. Analysts forecast that Kopin Corporation will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PFG Investments LLC bought a new position in Kopin during the 2nd quarter worth $245,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Kopin in the second quarter valued at about $128,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Kopin during the second quarter worth about $1,834,000. ProShare Advisors LLC acquired a new position in shares of Kopin in the second quarter worth approximately $271,000. Finally, Geode Capital Management LLC boosted its holdings in 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 during the last quarter. 30.96% of the stock is currently owned by institutional investors and hedge funds.

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.