Canaccord Genuity Group Issues Positive Forecast for Kopin (NASDAQ:KOPN) Stock Price

Key Points

• Canaccord Genuity raised its price target for Kopin to $7.50 from $6.50 and maintained a Buy rating, implying 101.6% upside from the current share price.
• Analyst opinions are mixed: six rate the stock Buy and two Sell; MarketBeat’s consensus is Moderate Buy with an average target of $7.33.
• Kopin’s latest quarterly revenue of $18.19 million exceeded estimates, but its loss of $0.02 per share was slightly worse than the expected $0.01 loss.

Kopin (NASDAQ:KOPN - Get Free Report) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $6.50 to $7.50 in a research note issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 101.61% from the company's current price.

KOPN has been the subject of a number of other research reports. Zacks Research downgraded shares of Kopin from a "hold" rating to a "strong sell" rating in a report on Tuesday. Weiss Ratings cut shares of Kopin from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday. Wall Street Zen raised shares of Kopin from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Oppenheimer restated an "outperform" rating on shares of Kopin in a research report on Wednesday. Finally, Stifel Nicolaus set a $6.50 price target on shares of Kopin in a report on Friday, September 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Kopin has an average rating of "Moderate Buy" and an average price target of $7.33.

Kopin Stock Up 12.0%

Shares of Kopin stock opened at $3.72 on Thursday. The firm has a market cap of $691.44 million, a P/E ratio of 93.00 and a beta of 3.72. Kopin has a fifty-two week low of $1.81 and a fifty-two week high of $6.61. The business has a 50-day moving average price of $4.12 and a 200 day moving average price of $3.79.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its earnings results on Tuesday, November 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a return on equity of 0.72% and a net margin of 0.93%. The firm had revenue of $18.19 million during the quarter, compared to analyst estimates of $15.96 million. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, equities research analysts anticipate that Kopin will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KOPN. Meeder Asset Management Inc. bought a new position in Kopin in the 2nd quarter worth about $33,000. Quantbot Technologies LP bought a new stake in shares of Kopin during the second quarter valued at approximately $39,000. Allworth Financial LP acquired a new position in shares of Kopin during the second quarter worth approximately $41,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Kopin during the third quarter worth approximately $46,000. Finally, Altium Investment Strategies LLC acquired a new position in shares of Kopin during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 30.96% of the company's stock.

About Kopin

Kopin Corporation develops and supplies microdisplays, optical components and wearable display systems. Its technologies include active-matrix liquid-crystal, liquid-crystal-on-silicon and OLED displays, along with related optics and electronics used to create compact, high-resolution viewing systems. The company's products serve defense, enterprise, medical and other markets. Applications include helmet-mounted displays, night-vision and thermal-imaging systems, industrial and training equipment, and medical devices.

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