Kopin (NASDAQ:KOPN) Shares Down 8.4% – Here’s Why

Kopin Corporation (NASDAQ:KOPN) was down 8.4% during mid-day trading on Friday . The company traded as low as $5.56 and last traded at $5.5420. Approximately 1,792,202 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,512,402 shares. The stock had previously closed at $6.05.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KOPN shares. Wall Street Zen upgraded Kopin from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Lake Street Capital boosted their price target on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus boosted their price target on Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Canaccord Genuity Group boosted their price objective on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research note on Thursday, May 14th. 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 price objective for the company. Five 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.15.

Kopin Stock Down 5.6%

The company has a market cap of $1.04 billion, a P/E ratio of 571.57 and a beta of 3.40. The business’s 50 day moving average is $3.67 and its 200 day moving average is $2.90.

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

Insiders Place Their Bets

In other news, CEO Michael Andrew Murray sold 187,920 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction 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 represents a 6.02% 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 116,860 shares of the company’s stock in a transaction 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 transaction, the chief operating officer directly owned 480,005 shares in the company, valued at approximately $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 524,760 shares of company stock worth $1,763,275. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Kopin

A number of large investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. acquired a new position in shares of Kopin during the first quarter worth $424,000. Aristides Capital LLC increased its position in shares of Kopin by 306.2% in the 1st quarter. Aristides Capital LLC now owns 219,538 shares of the company’s stock valued at $494,000 after acquiring an additional 165,494 shares during the period. Principal Financial Group Inc. increased its position in shares of Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after acquiring an additional 3,243 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Kopin by 66.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 113,345 shares of the company’s stock valued at $255,000 after acquiring an additional 45,232 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Kopin in the 1st quarter valued at $146,000. 30.96% of the stock is owned by institutional investors and hedge funds.

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.