Kopin (NASDAQ:KOPN) Shares Gap Up to $10.45


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Kopin Co. (NASDAQ:KOPN) gapped up prior to trading on Thursday . The stock had previously closed at $10.45, but opened at $10.84. Kopin shares last traded at $10.50, with a volume of 20,532 shares.

A number of equities analysts have weighed in on the company. HC Wainwright restated a “neutral” rating on shares of Kopin in a report on Tuesday, March 9th. Zacks Investment Research cut Kopin from a “buy” rating to a “hold” rating in a report on Wednesday, January 6th.

The stock has a 50-day simple moving average of $9.90 and a 200-day simple moving average of $4.50. The company has a market capitalization of $973.10 million, a price-to-earnings ratio of -69.66 and a beta of 2.45.

Kopin (NASDAQ:KOPN) last announced its earnings results on Monday, March 1st. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Kopin had a negative return on equity of 51.37% and a negative net margin of 37.11%. The company had revenue of $13.92 million for the quarter, compared to analyst estimates of $9.20 million. During the same period in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts predict that Kopin Co. will post -0.09 earnings per share for the current fiscal year.

In related news, CFO Richard Sneider sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, January 22nd. The stock was sold at an average price of $4.00, for a total transaction of $180,000.00. Following the sale, the chief financial officer now directly owns 364,006 shares of the company’s stock, valued at approximately $1,456,024. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Hong K. Choi sold 159,072 shares of the company’s stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $3.70, for a total value of $588,566.40. Following the sale, the chief technology officer now directly owns 173,260 shares in the company, valued at $641,062. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 761,332 shares of company stock worth $5,722,125. 8.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of KOPN. Essex Investment Management Co. LLC acquired a new stake in shares of Kopin during the 4th quarter valued at approximately $1,266,000. Renaissance Technologies LLC acquired a new stake in shares of Kopin during the 4th quarter valued at approximately $611,000. ExodusPoint Capital Management LP acquired a new stake in shares of Kopin during the 4th quarter valued at approximately $519,000. Morgan Stanley raised its position in shares of Kopin by 37.0% during the 3rd quarter. Morgan Stanley now owns 412,935 shares of the company’s stock valued at $570,000 after acquiring an additional 111,443 shares in the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Kopin during the 4th quarter valued at approximately $272,000. 18.78% of the stock is currently owned by institutional investors and hedge funds.

Kopin Company Profile (NASDAQ:KOPN)

Kopin Corporation invents, develops, manufactures, and sells components, subassemblies, head-worn, and hand-held systems in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, application specific integrated circuits, backlights, and optical lenses; and headset systems.

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