DNB Asset Management AS Has $3.03 Million Stake in Kopin Corporation $KOPN

Key Points

• DNB Asset Management AS increased its Kopin stake by 123.2% in the fourth quarter, ending with 1,294,368 shares worth about $3.03 million.
• Analysts are generally positive on Kopin, with several firms raising price targets; the stock now carries a consensus “Moderate Buy” rating and a $7.15 average target price.
• Company insiders have been selling shares recently, including the CEO and COO, while Kopin also reported a quarterly EPS loss of ($0.02), slightly worse than expectations.

DNB Asset Management AS boosted its position in shares of Kopin Corporation (NASDAQ:KOPN - Free Report) by 123.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,294,368 shares of the company's stock after buying an additional 714,423 shares during the period. DNB Asset Management AS owned approximately 0.71% of Kopin worth $3,029,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Focused Wealth Management Inc grew its stake in 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 buying an additional 5,000 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Kopin by 68.7% in the 3rd quarter. AE Wealth Management LLC now owns 16,873 shares of the company's stock valued at $41,000 after purchasing an additional 6,873 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Kopin by 13.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 68,113 shares of the company's stock valued at $159,000 after purchasing an additional 7,971 shares in the last quarter. EWA LLC acquired a new stake in shares of Kopin in the 4th quarter valued at approximately $25,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Kopin in the 3rd quarter valued at approximately $33,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KOPN shares. Wall Street Zen upgraded shares of Kopin from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. Lake Street Capital raised their price target on shares of Kopin from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. JonesTrading started coverage on shares of Kopin in a research note on Monday, April 27th. They issued a "buy" rating and a $6.00 price target on the stock. Weiss Ratings downgraded shares of Kopin from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group raised their price target on shares of Kopin from $5.50 to $6.25 and gave the company a "buy" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.15.

Insider Buying and Selling

In related news, COO Paul Christopher Baker sold 116,860 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 480,005 shares in the company, valued at $1,896,019.75. This trade represents a 19.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $2.80, for a total transaction of $526,176.00. Following the completion of the transaction, 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. In the last quarter, insiders sold 524,760 shares of company stock valued at $1,763,275. 2.80% of the stock is owned by company insiders.

Kopin Price Performance

Shares of NASDAQ KOPN opened at $4.37 on Wednesday. The company has a 50 day simple moving average of $3.16 and a 200 day simple moving average of $2.78. The firm has a market cap of $799.36 million, a PE ratio of 437.44 and a beta of 3.40. Kopin Corporation has a 1 year low of $1.23 and a 1 year high of $6.45.

Kopin (NASDAQ:KOPN - Get Free Report) last issued 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). The business had revenue of $10.55 billion during the quarter, compared to the consensus estimate of $9.96 million. Kopin had a net margin of 5.00% and a return on equity of 4.85%. As a group, research analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

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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