Kopin (NASDAQ:KOPN) Trading Down 5.6% – Here’s Why

Kopin Corporation (NASDAQ:KOPN) shares fell 5.6% during mid-day trading on Wednesday . The stock traded as low as $4.29 and last traded at $4.3050. Approximately 516,831 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 5,389,592 shares. The stock had previously closed at $4.56.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KOPN shares. Weiss Ratings upgraded shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Craig Hallum reiterated a “buy” rating and set a $10.00 price target on shares of Kopin in a research note on Tuesday, May 12th. Stifel Nicolaus increased their price target on shares of Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Lake Street Capital raised their price objective on shares of Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Zacks Research lowered Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kopin currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.20.

Kopin Stock Down 5.4%

The company has a market cap of $802.03 million, a price-to-earnings ratio of 107.90 and a beta of 3.57. The business has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $3.86.

Institutional Trading of Kopin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Kopin during the second quarter worth about $66,205,000. AWM Investment Company Inc. acquired a new stake in shares of Kopin during the 2nd quarter valued at approximately $35,948,000. State Street Corp lifted its position in shares of Kopin by 224.0% during the 4th quarter. State Street Corp now owns 11,119,885 shares of the company’s stock valued at $26,021,000 after acquiring an additional 7,687,358 shares during the period. Telemark Asset Management LLC boosted its stake in shares of Kopin by 40.0% during the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock worth $16,380,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Kopin by 106.8% in 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. Institutional investors and hedge funds 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.