Kopin (NASDAQ:KOPN) Shares Up 7.7% – What’s Next?

Kopin Corporation (NASDAQ:KOPN) shares traded up 7.7% on Friday . The company traded as high as $3.91 and last traded at $3.9750. 3,205,767 shares traded hands during trading, a decline of 44% from the average session volume of 5,765,379 shares. The stock had previously closed at $3.69.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Lake Street Capital boosted their price target on Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research cut Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Canaccord Genuity Group upped their target price on Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Craig Hallum reaffirmed a “buy” rating and set a $10.00 target price on shares of Kopin in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.15.

Kopin Stock Performance

The company has a market cap of $696.93 million, a PE ratio of 381.38 and a beta of 3.47. The company has a 50 day simple moving average of $4.75 and a two-hundred day simple moving average of $3.41.

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

Insider Activity at Kopin

In other news, COO Paul Christopher Baker sold 116,860 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction of $461,597.00. Following the transaction, the chief operating officer owned 480,005 shares in the company, valued at $1,896,019.75. This represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 176,840 shares of company stock worth $755,499. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EWA LLC acquired a new stake in shares of Kopin in the fourth quarter worth $25,000. Prudential Financial Inc. bought a new stake in Kopin during the second quarter valued at about $25,000. Legal & General Group Plc acquired a new stake in shares of Kopin in the second quarter valued at about $25,000. Cibc World Markets Corp bought a new position in shares of Kopin in the fourth quarter worth about $28,000. Finally, Principal Financial Group Inc. boosted its stake in Kopin by 30.7% during the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after purchasing an additional 3,243 shares during the period. Institutional investors and hedge funds 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.