Kopin (NASDAQ:KOPN) Stock Price Down 9.8% – Here’s Why

Kopin Corporation (NASDAQ:KOPN)’s stock price fell 9.8% during trading on Tuesday . The company traded as low as $4.55 and last traded at $4.4560. 1,651,407 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,329,446 shares. The stock had previously closed at $4.94.

Analyst Ratings Changes

Several brokerages have recently commented on KOPN. Stifel Nicolaus raised their target price on Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Kopin from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Canaccord Genuity Group upped their price target on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research report on Thursday, May 14th. Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Kopin in a research note on Tuesday, May 12th. Finally, JonesTrading assumed coverage on shares of Kopin in a research note on Monday, April 27th. They issued a “buy” rating and a $6.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.15.

Kopin Price Performance

The stock has a 50 day moving average price of $3.12 and a 200-day moving average price of $2.77. The stock has a market capitalization of $836.68 million, a P/E ratio of 458.96 and a beta of 3.40.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The firm had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.96 million. Research analysts predict 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 116,860 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total value of $461,597.00. Following the sale, the chief operating officer directly owned 480,005 shares of the company’s stock, valued at $1,896,019.75. The trade was a 19.58% decrease in their position. The sale 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 187,920 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $2.80, for a total value of $526,176.00. Following the transaction, the chief executive officer directly owned 2,931,122 shares of the company’s stock, valued at approximately $8,207,141.60. This trade represents a 6.02% decrease in their position. 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 a total of 524,760 shares of company stock valued at $1,763,275 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Kopin

A number of hedge funds have recently bought and sold shares of KOPN. State Street Corp grew its stake in shares of Kopin by 224.0% in the fourth quarter. State Street Corp now owns 11,119,885 shares of the company’s stock worth $26,021,000 after acquiring an additional 7,687,358 shares during the period. Telemark Asset Management LLC boosted its holdings in Kopin by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock worth $16,380,000 after purchasing an additional 2,000,000 shares during the last quarter. 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 worth $5,353,000 after purchasing an additional 1,806,632 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Kopin in the fourth quarter worth $2,925,000. Finally, Vanguard Group Inc. increased its position in Kopin by 11.2% during the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after acquiring an additional 945,662 shares during the last quarter. Hedge funds and other 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.