Kopin (NASDAQ:KOPN) Stock Price Down 8.4% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JonesTrading started coverage on shares of Kopin in a research note on Monday, April 27th. They issued a “buy” rating and a $6.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Kopin from $5.50 to $6.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Canaccord Genuity Group boosted their price target 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, Lake Street Capital boosted their price target on shares of Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Performance

The firm has a market cap of $1.04 billion, a PE ratio of 568.07 and a beta of 3.40. The stock’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $2.88.

Kopin (NASDAQ:KOPN) last released 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 analysts’ expectations of $9.96 million. As a group, analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Paul Christopher Baker sold 58,939 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total value of $288,801.10. Following the completion of the sale, the chief operating officer owned 420,025 shares of the company’s stock, valued at approximately $2,058,122.50. This represents a 12.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $3.01, for a total transaction of $291,368.00. Following the completion of the sale, the chief executive officer directly owned 2,771,122 shares of the company’s stock, valued at $8,341,077.22. This trade represents a 3.38% 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. Insiders sold a total of 524,760 shares of company stock valued at $1,763,275 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kopin

A number of institutional investors have recently made changes to their positions in KOPN. State Street Corp boosted its stake in shares of Kopin by 224.0% in the 4th quarter. State Street Corp now owns 11,119,885 shares of the company’s stock valued at $26,021,000 after purchasing an additional 7,687,358 shares in the last quarter. Telemark Asset Management LLC boosted its stake in shares of Kopin by 40.0% in the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after purchasing an additional 2,000,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after purchasing an additional 1,806,632 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Kopin in the 4th quarter valued at $2,925,000. Finally, Vanguard Group Inc. boosted its stake in shares of Kopin by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after purchasing an additional 945,662 shares in the last quarter. Hedge funds and other institutional investors own 30.96% of the company’s stock.

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.