Canaccord Genuity Group Boosts Kopin (NASDAQ:KOPN) Price Target to $3.00

Key Points

• Canaccord Genuity Group has raised its price target for Kopin (NASDAQ: KOPN) from $2.50 to $3.00, indicating a potential upside of 33.33% based on the stock's previous close.
• Despite this bullish outlook from Canaccord, Wall Street Zen recently downgraded Kopin from a "hold" to a "sell" rating, indicating mixed sentiments among analysts.
• Kopin reported a quarterly earnings miss, with earnings per share of ($0.03) against a consensus estimate of ($0.01), and revenues totaling $8.46 million, below expectations of $10.57 million.

Kopin (NASDAQ:KOPN - Get Free Report) had its price target upped by equities research analysts at Canaccord Genuity Group from $2.50 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 33.33% from the stock's previous close.

Separately, Wall Street Zen lowered shares of Kopin from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kopin presently has an average rating of "Buy" and an average target price of $3.00.

Kopin Stock Performance

Shares of NASDAQ KOPN opened at $2.25 on Tuesday. The company has a market capitalization of $366.32 million, a P/E ratio of -25.00 and a beta of 2.96. Kopin has a 52-week low of $0.56 and a 52-week high of $2.67. The company's 50 day moving average price is $1.98 and its 200-day moving average price is $1.54.

Kopin (NASDAQ:KOPN - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $8.46 million during the quarter, compared to the consensus estimate of $10.57 million. Kopin had a negative net margin of 29.47% and a negative return on equity of 66.91%. Analysts forecast that Kopin will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Kopin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PEAK6 LLC boosted its holdings in shares of Kopin by 12.5% in the 1st quarter. PEAK6 LLC now owns 71,200 shares of the company's stock worth $66,000 after buying an additional 7,900 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Kopin by 10.4% during the first quarter. Jefferies Financial Group Inc. now owns 104,564 shares of the company's stock valued at $97,000 after purchasing an additional 9,864 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Kopin by 19.0% during the second quarter. Fisher Asset Management LLC now owns 65,875 shares of the company's stock valued at $101,000 after purchasing an additional 10,515 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Kopin during the second quarter valued at about $25,000. Finally, Millennium Management LLC lifted its holdings in Kopin by 6.3% during the fourth quarter. Millennium Management LLC now owns 279,459 shares of the company's stock valued at $380,000 after purchasing an additional 16,630 shares during the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

Kopin Company Profile

Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products.

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