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

Kopin Corporation (NASDAQ:KOPN) gapped down prior to trading on Tuesday . The stock had previously closed at $3.30, but opened at $3.06. Kopin shares last traded at $3.1620, with a volume of 1,100,401 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KOPN shares. Craig Hallum initiated coverage on shares of Kopin in a research report on Wednesday, October 22nd. They set a “buy” rating and a $6.00 target price on the stock. Stifel Nicolaus initiated coverage on shares of Kopin in a research report on Friday, October 17th. They set a “buy” rating and a $5.50 price objective on the stock. Lake Street Capital upped their target price on shares of Kopin from $3.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Canaccord Genuity Group raised their price target on Kopin from $3.00 to $3.25 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kopin presently has an average rating of “Moderate Buy” and a consensus price target of $4.69.

Kopin Price Performance

The firm’s 50-day moving average is $2.57 and its 200 day moving average is $2.51. The stock has a market cap of $579.47 million, a price-to-earnings ratio of -79.63 and a beta of 2.70.

Kopin (NASDAQ:KOPN) last issued its earnings results on Wednesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%.The business had revenue of $11.96 million for the quarter, compared to analyst estimates of $13.89 million. On average, sell-side analysts forecast that Kopin Corporation will post -0.14 EPS for the current year.

Institutional Trading of Kopin

Hedge funds and other institutional investors have recently modified their holdings of the business. Silverberg Bernstein Capital Management LLC boosted its stake in Kopin by 6.3% during the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 1,277,409 shares of the company’s stock valued at $2,989,000 after acquiring an additional 75,400 shares during the last quarter. First Bank & Trust bought a new position in shares of Kopin in the fourth quarter worth $108,000. Tudor Investment Corp ET AL acquired a new stake in shares of Kopin in the 3rd quarter worth approximately $976,000. CIBC Bancorp USA Inc. acquired a new stake in Kopin in the 3rd quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Kopin by 73,450.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 17,652 shares of the company’s stock worth $43,000 after purchasing an additional 17,628 shares in the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

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.