Kopin (NASDAQ:KOPN) Hits New 1-Year High - What's Next?

Key Points

• Kopin Corporation's stock price reached a new 1-year high, trading at $3.42 on a volume of over 2.86 million shares, compared to a previous close of $2.82.
• Analysts have mixed ratings for Kopin, with three rating it as a "Buy" while one has a "Sell" rating; the average target price is set at $3.00.
• Despite the positive stock performance, Kopin reported a quarterly earnings miss with a revenue of $8.46 million, falling short of expectations of $10.57 million.

Kopin Corporation (NASDAQ:KOPN - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $3.35 and last traded at $3.42, with a volume of 2862243 shares changing hands. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen cut Kopin from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Lake Street Capital upped their price target on Kopin from $2.50 to $3.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kopin in a research report on Saturday, September 27th. Finally, Canaccord Genuity Group upped their target price on shares of Kopin from $2.50 to $3.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $3.00.

Kopin Price Performance

The firm has a market capitalization of $567.39 million, a PE ratio of -39.06 and a beta of 2.98. The business has a 50-day simple moving average of $2.15 and a 200-day simple moving average of $1.66.

Kopin (NASDAQ:KOPN - Get Free Report) last released its quarterly earnings results 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). Kopin had a negative net margin of 29.47% and a negative return on equity of 66.91%. The company had revenue of $8.46 million for the quarter, compared to analysts' expectations of $10.57 million. On average, research analysts expect that Kopin Corporation will post -0.14 earnings per share for the current year.

Institutional Trading of Kopin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new position in shares of Kopin during the second quarter valued at approximately $25,000. Legal & General Group Plc purchased a new position in Kopin during the 2nd quarter valued at $25,000. O Connor Financial Group LLC purchased a new stake in Kopin in the second quarter worth $32,000. Virtu Financial LLC purchased a new stake in shares of Kopin during the first quarter valued at $36,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Kopin in the second quarter worth about $49,000. 30.96% of the stock is owned by hedge funds and other institutional investors.

About Kopin

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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