Kopin (NASDAQ:KOPN) Stock Price Up 8.5% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN) rose 8.5% on Monday . The company traded as high as $4.21 and last traded at $4.1450. Approximately 2,481,305 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 5,897,825 shares. The stock had previously closed at $3.82.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KOPN shares. Zacks Research downgraded Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Craig Hallum restated a “buy” rating and issued a $10.00 target price on shares of Kopin in a report on Tuesday, May 12th. JonesTrading started coverage on shares of Kopin in a report on Monday, April 27th. They set a “buy” rating and a $6.00 price target for the company. Weiss Ratings cut shares of Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. Finally, Canaccord Genuity Group raised their price target on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.15.

Kopin Trading Up 9.8%

The company’s 50 day moving average is $4.72 and its 200-day moving average is $3.26. The company has a market capitalization of $767.35 million, a P/E ratio of 420.92 and a beta of 3.43.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The company had revenue of $10.55 million during the quarter, compared to the consensus estimate of $9.96 million. Analysts predict that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Kopin news, CEO Michael Andrew Murray sold 96,800 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $3.01, for a total value of $291,368.00. Following the transaction, the chief executive officer directly owned 2,771,122 shares of the company’s stock, valued at approximately $8,341,077.22. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 stock was sold at an average price of $4.90, for a total transaction of $288,801.10. Following the transaction, the chief operating officer owned 420,025 shares in the company, 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 524,760 shares of company stock valued at $1,763,275 over the last quarter. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Kopin

Institutional investors have recently bought and sold shares of the business. UBS Group AG raised its stake in Kopin by 40.3% during the 4th quarter. UBS Group AG now owns 1,359,380 shares of the company’s stock valued at $3,181,000 after purchasing an additional 390,404 shares during the period. DNB Asset Management AS boosted its stake in Kopin by 123.2% in the 4th quarter. DNB Asset Management AS now owns 1,294,368 shares of the company’s stock worth $3,029,000 after purchasing an additional 714,423 shares during the period. Tudor Investment Corp ET AL purchased a new stake in Kopin during the 3rd quarter valued at approximately $976,000. Telemark Asset Management LLC grew its holdings in Kopin by 40.0% during the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after buying an additional 2,000,000 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of Kopin during the fourth quarter valued at approximately $2,925,000. 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.