Kopin (NASDAQ:KOPN) Stock Price Down 8.5% – Here’s Why

Shares of Kopin Corporation (NASDAQ:KOPN) fell 8.5% during trading on Wednesday . The stock traded as low as $3.76 and last traded at $3.7140. Approximately 1,907,285 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 5,735,783 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings lowered Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Kopin from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Zacks Research cut shares of Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Lake Street Capital upped their price target on Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, JonesTrading assumed coverage on Kopin in a report on Monday, April 27th. They set 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.15.

Kopin Price Performance

The company has a market cap of $695.10 million, a PE ratio of 380.38 and a beta of 3.47. The company’s fifty day moving average price is $4.64 and its 200 day moving average price is $3.46.

Kopin (NASDAQ:KOPN) last released its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 5.00% and a return on equity of 4.85%. On average, analysts forecast that Kopin Corporation will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other Kopin news, COO Paul Christopher Baker sold 116,860 shares of the business’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 sale, the chief operating officer directly owned 480,005 shares in the company, valued at $1,896,019.75. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,840 shares of company stock worth $755,499 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kopin

Large investors have recently modified their holdings of the business. EWA LLC bought a new position in Kopin in the 4th quarter worth approximately $25,000. Cibc World Markets Corp bought a new position in shares of Kopin in the fourth quarter worth $28,000. Russell Investments Group Ltd. purchased a new position in shares of Kopin in the third quarter valued at $33,000. Principal Financial Group Inc. raised its stake in shares of 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. Finally, Private Advisor Group LLC bought a new position in Kopin in the 1st quarter worth about $32,000. 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.