Kopin (NASDAQ:KOPN) Now Covered by JonesTrading

Key Points

• JonesTrading initiated coverage with a "buy" rating and a $6 price target, implying roughly a 61% upside from the stock's prior close.
• Kopin beat EPS estimates for the quarter ($0.04 vs. consensus -$0.02) but missed revenue expectations ($8.37M vs. $12.98M), and analysts project about -$0.03 EPS for the current year.
• CEO Michael Andrew Murray sold 96,800 shares under a Rule 10b5-1 plan (insiders sold 347,920 shares in the last 90 days), while large institutions like State Street, Telemark and Vanguard materially increased holdings and institutions now own ~30.96% of the stock.

Research analysts at JonesTrading started coverage on shares of Kopin (NASDAQ:KOPN - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The firm set a "buy" rating and a $6.00 price target on the stock. JonesTrading's price objective would suggest a potential upside of 61.07% from the company's previous close.

Several other research firms have also weighed in on KOPN. Wall Street Zen lowered Kopin from a "sell" rating to a "strong sell" rating in a report on Saturday, April 18th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kopin in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kopin presently has an average rating of "Moderate Buy" and a consensus target price of $4.95.

Kopin Stock Performance

KOPN stock traded up $0.03 during midday trading on Monday, hitting $3.73. 1,824,857 shares of the company's stock were exchanged, compared to its average volume of 3,231,004. The stock's fifty day moving average price is $2.42 and its 200-day moving average price is $2.66. The company has a market cap of $683.02 million, a PE ratio of 373.17 and a beta of 2.73. Kopin has a one year low of $1.18 and a one year high of $4.16.

Kopin (NASDAQ:KOPN - Get Free Report) last posted its earnings results on Monday, April 13th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $8.37 million for 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, analysts expect that Kopin will post -0.03 EPS for the current year.

Insider Activity at Kopin

In other news, CEO Michael Andrew Murray sold 96,800 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the sale, the chief executive officer owned 2,771,122 shares of the company's stock, valued at $8,341,077.22. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 347,920 shares of company stock valued at $1,007,776 over the last 90 days. Insiders own 2.80% of the company's stock.

Institutional Trading of Kopin

A number of institutional investors have recently made changes to their positions in KOPN. State Street Corp lifted its position in shares of Kopin by 224.0% in the fourth quarter. State Street Corp now owns 11,119,885 shares of the company's stock worth $26,021,000 after purchasing an additional 7,687,358 shares in the last quarter. Telemark Asset Management LLC lifted its position in shares of Kopin by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company's stock worth $16,380,000 after purchasing an additional 2,000,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kopin by 106.8% during the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock worth $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 fourth quarter worth about $2,925,000. Finally, Vanguard Group Inc. raised its holdings in Kopin by 11.2% during the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company's stock worth $22,784,000 after acquiring an additional 945,662 shares in the last quarter. Institutional investors own 30.96% of the company's stock.

About Kopin

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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