Kopin (NASDAQ:KOPN) Trading Down 8.5% – Here’s What Happened

Shares of Kopin Corporation (NASDAQ:KOPN) dropped 8.5% on Wednesday . The company traded as low as $3.76 and last traded at $3.7140. 1,907,285 shares were traded during trading, a decline of 67% from the average daily volume of 5,735,783 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target on shares of Kopin in a research note on Tuesday, May 12th. Lake Street Capital increased their price objective on Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Zacks Research lowered Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Stifel Nicolaus boosted their target price on shares of Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, JonesTrading started coverage on shares of Kopin in a research report on Monday, April 27th. They issued a “buy” rating and a $6.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kopin has an average rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Performance

The business has a 50-day moving average price of $4.70 and a 200 day moving average price of $3.44. The stock has a market capitalization of $679.55 million, a P/E ratio of 372.87 and a beta of 3.47.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share 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 return on equity of 4.85% and a net margin of 5.00%. As a group, research analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Insider Activity at Kopin

In other 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,840 shares of company stock valued at $755,499 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kopin

A number of hedge funds have recently bought and sold shares of KOPN. Principal Financial Group Inc. grew its holdings in shares of Kopin by 30.7% during the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after buying an additional 3,243 shares during the last quarter. Focused Wealth Management Inc raised its holdings in Kopin by 2.4% in the 4th quarter. Focused Wealth Management Inc now owns 212,444 shares of the company’s stock worth $497,000 after acquiring an additional 5,000 shares during the last quarter. Deutsche Bank AG lifted its position in Kopin by 4.0% in the 4th quarter. Deutsche Bank AG now owns 155,175 shares of the company’s stock valued at $363,000 after acquiring an additional 5,902 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Kopin by 13.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 68,113 shares of the company’s stock valued at $159,000 after acquiring an additional 7,971 shares in the last quarter. Finally, First Bank & Trust boosted its stake in Kopin by 79.1% during the 2nd quarter. First Bank & Trust now owns 18,517 shares of the company’s stock valued at $83,000 after purchasing an additional 8,176 shares during the last quarter. Institutional investors own 30.96% of the company’s stock.

Kopin Company Profile

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.