Insider Selling: Kopin (NASDAQ:KOPN) CEO Sells $291,368.00 in Stock

Kopin Corporation (NASDAQ:KOPN) CEO Michael Andrew Murray sold 96,800 shares of Kopin 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 owned 2,771,122 shares in the company, valued at approximately $8,341,077.22. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Andrew Murray also recently made the following trade(s):

• On Wednesday, April 15th, Michael Andrew Murray sold 63,200 shares of Kopin stock. The stock was sold at an average price of $3.01, for a total transaction of $190,232.00.
• On Monday, April 13th, Michael Andrew Murray sold 187,920 shares of Kopin stock. The stock was sold at an average price of $2.80, for a total value of $526,176.00.

Kopin Price Performance

Kopin stock traded up $0.03 during midday trading on Tuesday, reaching $2.87. The company’s stock had a trading volume of 1,931,827 shares, compared to its average volume of 3,052,088. Kopin Corporation has a 52-week low of $0.98 and a 52-week high of $4.16. The stock has a market capitalization of $525.51 million, a P/E ratio of 287.79 and a beta of 2.73. The stock’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $2.66.

Kopin (NASDAQ:KOPN) last released its earnings results on Monday, April 13th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. Kopin had a return on equity of 8.53% and a net margin of 6.63%.The firm had revenue of $8.37 million for the quarter, compared to the consensus estimate of $12.98 million. As a group, equities research analysts expect that Kopin Corporation will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on KOPN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kopin in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Kopin from a “sell” rating to a “strong sell” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Kopin presently has an average rating of “Moderate Buy” and an average target price of $4.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in 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 buying an additional 7,687,358 shares during the period. Telemark Asset Management LLC boosted its holdings in shares of Kopin by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after acquiring an additional 2,000,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,806,632 shares in the last quarter. CenterBook Partners LP acquired a new position in shares of Kopin during the fourth quarter worth about $2,925,000. Finally, Vanguard Group Inc. raised its holdings in Kopin by 11.2% during the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock worth $22,784,000 after purchasing an additional 945,662 shares in the last quarter. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

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.