Insider Selling: Kopin (NASDAQ:KOPN) CEO Sells 63,200 Shares of Stock

Key Points

• CEO sold shares: Kopin CEO Michael Andrew Murray sold 63,200 shares on April 15 at an average price of $3.01 for $190,232 (and had sold 187,920 shares on April 13 at $2.80), transactions executed under a Rule 10b5-1 plan that reduced his stake by about 2.16% to 2,867,922 shares.
• Mixed financials and outlook: Kopin reported an EPS beat of $0.04 versus a -$0.02 estimate but missed revenue ($8.37M vs. $12.98M); the company has a market cap near $541M, a high P/E, and a consensus "Moderate Buy" with an average price target of $4.69 amid mixed analyst ratings.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) CEO Michael Andrew Murray sold 63,200 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.01, for a total transaction of $190,232.00. Following the completion of the sale, the chief executive officer directly owned 2,867,922 shares in the company, valued at approximately $8,632,445.22. The trade was a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Andrew Murray also recently made the following trade(s):

• On Monday, April 13th, Michael Andrew Murray sold 187,920 shares of Kopin stock. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00.

Kopin Stock Performance

NASDAQ:KOPN traded up $0.03 during trading hours on Thursday, hitting $2.95. The stock had a trading volume of 3,413,019 shares, compared to its average volume of 3,060,328. Kopin Corporation has a one year low of $0.88 and a one year high of $4.16. The business's 50 day moving average is $2.29 and its 200-day moving average is $2.65. The company has a market cap of $540.91 million, a price-to-earnings ratio of 295.30 and a beta of 2.73.

Kopin (NASDAQ:KOPN - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $8.37 million for the quarter, compared to the consensus estimate of $12.98 million. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%. On average, sell-side analysts anticipate that Kopin Corporation will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KOPN. Wall Street Zen downgraded shares of Kopin from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kopin in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.69.

Hedge Funds Weigh In On Kopin

A number of hedge funds have recently made changes to their positions in KOPN. State Street Corp boosted its position in shares of 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 in the last quarter. Vanguard Group Inc. lifted its stake in Kopin by 11.2% in the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company's stock valued at $22,784,000 after buying an additional 945,662 shares during the period. Telemark Asset Management LLC lifted its stake in Kopin by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company's stock valued at $16,380,000 after buying an additional 2,000,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kopin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,306,623 shares of the company's stock worth $10,080,000 after buying an additional 544,189 shares in the last quarter. Finally, Herald Investment Management Ltd grew its position in shares of Kopin by 30.3% during the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company's stock worth $4,860,000 after buying an additional 465,000 shares during the period. 30.96% of the stock is currently owned by institutional investors.

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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