DNB Asset Management AS Purchases 714,423 Shares of Kopin Corporation $KOPN

DNB Asset Management AS grew its position in shares of Kopin Corporation (NASDAQ:KOPN) by 123.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,294,368 shares of the company’s stock after purchasing an additional 714,423 shares during the quarter. DNB Asset Management AS’s holdings in Kopin were worth $3,029,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new position in Kopin during the 3rd quarter worth approximately $976,000. Herald Investment Management Ltd raised its holdings in Kopin by 30.3% during the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,860,000 after purchasing an additional 465,000 shares during the last quarter. Telemark Asset Management LLC raised its holdings in Kopin by 25.0% during the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company’s stock worth $12,150,000 after purchasing an additional 1,000,000 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Kopin during the 3rd quarter worth approximately $729,000. Finally, Ironwood Investment Management LLC bought a new position in Kopin during the 3rd quarter worth approximately $1,018,000. Institutional investors own 30.96% of the company’s stock.

Kopin Stock Down 11.5%

NASDAQ:KOPN opened at $4.37 on Wednesday. The company has a fifty day moving average of $3.16 and a 200-day moving average of $2.78. The firm has a market capitalization of $799.36 million, a P/E ratio of 437.44 and a beta of 3.40. Kopin Corporation has a twelve month low of $1.23 and a twelve month high of $6.45.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data 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 billion during the quarter, compared to the consensus estimate of $9.96 million. Kopin had a net margin of 5.00% and a return on equity of 4.85%. On average, analysts anticipate that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Kopin

In other news, CEO Michael Andrew Murray sold 96,800 shares of Kopin stock in a transaction on Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the completion of the sale, the chief executive officer owned 2,771,122 shares in the company, valued at $8,341,077.22. The trade was a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 58,939 shares of Kopin stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total transaction of $288,801.10. Following the completion of the sale, the chief operating officer owned 420,025 shares of the company’s stock, valued at $2,058,122.50. This represents a 12.31% decrease in their position. The SEC filing for this sale provides additional information. 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 quarter. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KOPN shares. Zacks Research upgraded shares of Kopin from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Craig Hallum restated a “buy” rating and set a $10.00 price target on shares of Kopin in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Kopin from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Stifel Nicolaus raised 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. Finally, Lake Street Capital lifted their price objective on shares of Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.15.

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.