Kopin (NASDAQ:KOPN) Stock Price Up 7.5% – Here’s Why

Shares of Kopin Corporation (NASDAQ:KOPN) rose 7.5% on Thursday . The stock traded as high as $6.05 and last traded at $5.9250. Approximately 3,865,303 shares changed hands during trading, a decline of 29% from the average daily volume of 5,464,129 shares. The stock had previously closed at $5.51.

Analyst Upgrades and Downgrades

Several research analysts have commented on KOPN shares. Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered Kopin from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. Craig Hallum reissued a “buy” rating and issued a $10.00 price objective on shares of Kopin in a research report on Tuesday, May 12th. Canaccord Genuity Group raised their target price on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Lake Street Capital raised their target price on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Five 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 currently has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Kopin Stock Up 8.4%

The firm’s 50 day simple moving average is $3.52 and its two-hundred day simple moving average is $2.86. The stock has a market cap of $1.09 billion, a P/E ratio of 597.00 and a beta of 3.40.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data 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 billion for the quarter, compared to analyst estimates of $9.96 million. As a group, equities analysts predict that Kopin Corporation will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, COO Paul Christopher Baker sold 116,860 shares of the company’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the company’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $2.80, for a total value of $526,176.00. Following the completion of the sale, the chief executive officer owned 2,931,122 shares of the company’s stock, valued at approximately $8,207,141.60. This trade represents a 6.02% decrease in their position. 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 524,760 shares of company stock valued at $1,763,275 in the last quarter. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Kopin

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Kopin by 30.7% in the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after buying an additional 3,243 shares during the period. Focused Wealth Management Inc raised its position in shares of Kopin by 2.4% during the fourth quarter. Focused Wealth Management Inc now owns 212,444 shares of the company’s stock worth $497,000 after purchasing an additional 5,000 shares during the period. Deutsche Bank AG raised its position in shares of Kopin by 4.0% during the fourth quarter. Deutsche Bank AG now owns 155,175 shares of the company’s stock worth $363,000 after purchasing an additional 5,902 shares during the period. AE Wealth Management LLC raised its position in shares of Kopin by 68.7% during the third quarter. AE Wealth Management LLC now owns 16,873 shares of the company’s stock worth $41,000 after purchasing an additional 6,873 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Kopin by 13.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 68,113 shares of the company’s stock worth $159,000 after purchasing an additional 7,971 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.