Kopin (NASDAQ:KOPN) Shares Up 8.6% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN) shares shot up 8.6% during trading on Wednesday . The stock traded as high as $4.72 and last traded at $4.7440. 1,741,312 shares changed hands during trading, a decline of 68% from the average session volume of 5,379,539 shares. The stock had previously closed at $4.37.

Analyst Ratings Changes

Several research firms have recently commented on KOPN. Weiss Ratings cut shares of Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. Lake Street Capital increased their price target 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. Stifel Nicolaus increased their price target on shares of Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Kopin from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Kopin in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kopin currently has an average rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Up 6.9%

The business’s fifty day moving average is $3.27 and its 200 day moving average is $2.80. The firm has a market capitalization of $948.44 million, a price-to-earnings ratio of 516.92 and a beta of 3.40.

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 company had revenue of $10.55 billion for the quarter, compared to analyst estimates of $9.96 million. Kopin had a return on equity of 4.85% and a net margin of 5.00%. Equities research analysts expect that Kopin Corporation will post -0.02 EPS for the current year.

Insider Transactions at Kopin

In related news, COO Paul Christopher Baker sold 116,860 shares of Kopin stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction of $461,597.00. Following the completion of the sale, the chief operating officer owned 480,005 shares of the company’s stock, valued at approximately $1,896,019.75. The trade was a 19.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of Kopin stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the sale, the chief executive officer directly owned 2,931,122 shares of the company’s stock, valued at $8,207,141.60. The trade was a 6.02% decrease in their position. 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. In the last three months, insiders sold 524,760 shares of company stock valued at $1,763,275. Insiders own 2.80% of the company’s stock.

Institutional Trading of Kopin

Several hedge funds and other institutional investors have recently bought and sold shares of KOPN. Geode Capital Management LLC boosted its stake in Kopin by 106.8% in the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after buying an additional 1,806,632 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Kopin by 113,958.1% in the second quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company’s stock valued at $108,000 after buying an additional 70,654 shares in the last quarter. Legal & General Group Plc acquired a new stake in Kopin in the second quarter valued at about $25,000. Rhumbline Advisers acquired a new position in Kopin during the 2nd quarter worth approximately $259,000. Finally, Prudential Financial Inc. acquired a new position in Kopin during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds 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.