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

Key Points

• Canaccord Genuity initiated coverage on Kopin with a "buy" rating and a $5.50 price target, implying roughly a 9.34% upside from the current price.
• MarketBeat's analyst consensus is a "Moderate Buy" (1 Strong Buy, 5 Buy, 1 Sell) with an average price target of $5.60.
• Insiders have been net sellers recently—CEO and COO executed Rule 10b5‑1 sales and insiders sold 465,821 shares (~$1.47M) in the past 90 days—while institutional investors own about 31% of the stock.

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Kopin (NASDAQ:KOPN - Get Free Report) in a research report issued on Friday. The brokerage set a "buy" rating and a $5.50 price target on the stock. Canaccord Genuity Group's price objective points to a potential upside of 9.34% from the stock's current price.

KOPN has been the subject of several other research reports. Lake Street Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Kopin in a research note on Wednesday, April 29th. Zacks Research raised Kopin from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Wall Street Zen raised Kopin from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kopin in a research note on Thursday, January 22nd. Finally, JonesTrading started coverage on Kopin in a research note on Monday, April 27th. They set a "buy" rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.60.

Kopin Price Performance

Shares of Kopin stock traded up $0.21 during trading hours on Friday, reaching $5.03. The company had a trading volume of 3,934,671 shares, compared to its average volume of 4,468,539. Kopin has a one year low of $1.23 and a one year high of $5.22. The business has a fifty day simple moving average of $2.72 and a 200 day simple moving average of $2.70. The firm has a market cap of $922.32 million, a PE ratio of 498.70 and a beta of 3.40.

Kopin (NASDAQ:KOPN - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $8.37 million during the quarter, compared to analyst estimates of $12.98 million. Kopin had a return on equity of 8.53% and a net margin of 6.63%. On average, research analysts forecast that Kopin will post -0.02 EPS for the current year.

Insider Transactions at Kopin

In related news, COO Paul Christopher Baker sold 116,860 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $3.95, for a total transaction of $461,597.00. Following the transaction, the chief operating officer owned 480,005 shares in the company, valued at $1,896,019.75. The trade was a 19.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $2.80, for a total value of $526,176.00. Following the transaction, the chief executive officer owned 2,931,122 shares in the company, valued at approximately $8,207,141.60. This represents a 6.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 465,821 shares of company stock worth $1,474,474. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KOPN. State Street Corp increased its holdings in Kopin by 224.0% during the 4th quarter. State Street Corp now owns 11,119,885 shares of the company's stock valued at $26,021,000 after purchasing an additional 7,687,358 shares during the period. Telemark Asset Management LLC boosted its position in Kopin by 40.0% during the 4th 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 position in Kopin by 106.8% during the 2nd 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 bought a new stake in Kopin during the 4th quarter valued at approximately $2,925,000. Finally, Vanguard Group Inc. boosted its position in Kopin by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company's stock valued at $22,784,000 after acquiring an additional 945,662 shares in the last quarter. Hedge funds and other institutional investors own 30.96% of the company's stock.

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.

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