Canaccord Genuity Group Initiates Coverage on Kopin (NASDAQ:KOPN)

Research analysts at Canaccord Genuity Group began coverage on shares of Kopin (NASDAQ:KOPN) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $5.50 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 9.34% from the company’s current price.

A number of other brokerages have also recently commented on KOPN. JonesTrading began coverage on Kopin in a research report on Monday, April 27th. They issued a “buy” rating and a $6.00 price target on the stock. Lake Street Capital reissued a “buy” rating and issued a $5.00 price target on shares of Kopin in a research report on Wednesday, April 29th. Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Kopin in a research report on Thursday, January 22nd. Finally, Zacks Research raised Kopin from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

Kopin Trading Up 4.4%

Kopin stock traded up $0.21 during trading hours on Friday, hitting $5.03. 3,934,671 shares of the stock traded hands, compared to its average volume of 4,468,539. The firm’s 50-day moving average price is $2.72 and its two-hundred day moving average price is $2.70. The company has a market cap of $922.32 million, a PE ratio of 498.70 and a beta of 3.40. Kopin has a one year low of $1.23 and a one year high of $5.22.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings results on Monday, April 13th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $12.98 million. On average, sell-side analysts expect that Kopin will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the transaction, the chief executive officer directly owned 2,931,122 shares of the company’s stock, valued at $8,207,141.60. This represents a 6.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $461,597.00. Following the transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 465,821 shares of company stock worth $1,474,474 in the last 90 days. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Kopin

Institutional investors have recently bought and sold shares of the stock. EWA LLC bought a new position in Kopin in the 4th quarter worth $25,000. Prudential Financial Inc. bought a new position in Kopin in the 2nd quarter worth $25,000. Legal & General Group Plc bought a new position in Kopin in the 2nd quarter worth $25,000. Cibc World Markets Corp purchased a new stake in Kopin in the 4th quarter worth $28,000. Finally, Principal Financial Group Inc. increased its stake in Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock worth $31,000 after buying an additional 3,243 shares in the last quarter. 30.96% of the stock is owned by institutional investors.

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.