Kopin (NASDAQ:KOPN) Shares Climb 12.2% – What’s Next?

Kopin Corporation (NASDAQ:KOPN) rose 12.2% during mid-day trading on Friday. The stock traded as high as $3.09 and last traded at $3.0850. 492,597 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 5,014,069 shares. The stock had previously closed at $2.75.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KOPN. Canaccord Genuity Group lifted their target price on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a research report on Friday, August 14th. Oppenheimer started coverage on Kopin in a research report on Thursday, September 17th. They issued an “outperform” rating and a $7.00 target price for the company. Weiss Ratings cut Kopin from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Stifel Nicolaus set a $6.50 price target on Kopin in a research note on Friday, September 25th. Finally, Wall Street Zen raised Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kopin currently has an average rating of “Moderate Buy” and a consensus target price of $7.17.

Kopin Trading Up 8.9%

The business’s fifty day moving average price is $4.21 and its 200 day moving average price is $3.78. The firm has a market capitalization of $556.68 million, a price-to-earnings ratio of 75.42 and a beta of 3.72.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $12.73 million during the quarter, compared to analysts’ expectations of $11.75 million. Kopin had a net margin of 18.26% and a return on equity of 14.79%. Kopin’s quarterly revenue was up 50.62% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, sell-side analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kopin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Kopin during the second quarter worth about $66,205,000. AWM Investment Company Inc. purchased a new position in shares of Kopin during the second quarter worth about $35,948,000. Squarepoint Ops LLC grew its holdings in shares of Kopin by 368.8% during the second quarter. Squarepoint Ops LLC now owns 1,490,289 shares of the company’s stock worth $6,676,000 after buying an additional 1,172,369 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Kopin during the second quarter worth about $6,368,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Kopin in the 2nd quarter valued at about $2,542,000. 30.96% of the stock is owned by hedge funds and other institutional investors.

About Kopin

Kopin Corporation (NASDAQ: KOPN) develops wearable computing technologies, microdisplays and optical systems for defense, enterprise, medical and consumer applications. Its products are designed to provide users with hands-free access to information through head-worn and other compact display systems.

The company’s technologies include high-resolution liquid-crystal and OLED microdisplays, display modules, optical components and specialized software. Kopin integrates these components into systems such as head-mounted displays, helmet-mounted displays, thermal imaging and night-vision equipment, and wearable devices used in industrial, medical and other specialized environments.

Founded in 1984 and headquartered in Westborough, Massachusetts, Kopin serves customers and partners in the United States and international markets.