Kopin (NASDAQ:KOPN) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Kopin's rating has been downgraded from "hold" to "sell" by Wall Street Zen, indicating a negative outlook from analysts.
• Canaccord Genuity Group has reduced its price target for Kopin from $2.50 to $2.25 while maintaining a "buy" rating.
• Kopin's recent earnings report revealed a loss of ($0.03) per share, falling short of the consensus estimate and highlighting operational challenges.

Kopin (NASDAQ:KOPN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Canaccord Genuity Group lowered their price objective on shares of Kopin from $2.50 to $2.25 and set a "buy" rating on the stock in a research report on Monday, April 21st. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $2.63.

Kopin Trading Down 1.1%

Shares of Kopin stock traded down $0.02 on Friday, hitting $1.77. 1,889,936 shares of the company traded hands, compared to its average volume of 2,666,437. The firm's 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.48. The company has a market cap of $288.17 million, a P/E ratio of -19.67 and a beta of 2.74. Kopin has a 12-month low of $0.5610 and a 12-month high of $2.50.

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

Hedge Funds Weigh In On Kopin

Several institutional investors and hedge funds have recently made changes to their positions in KOPN. PEAK6 LLC grew its holdings in Kopin by 12.5% in the 1st quarter. PEAK6 LLC now owns 71,200 shares of the company's stock worth $66,000 after acquiring an additional 7,900 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Kopin by 10.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 104,564 shares of the company's stock valued at $97,000 after purchasing an additional 9,864 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Kopin by 19.0% during the 2nd quarter. Fisher Asset Management LLC now owns 65,875 shares of the company's stock valued at $101,000 after purchasing an additional 10,515 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Kopin during the 2nd quarter valued at about $25,000. Finally, Millennium Management LLC boosted its stake in shares of Kopin by 6.3% during the 4th quarter. Millennium Management LLC now owns 279,459 shares of the company's stock valued at $380,000 after purchasing an additional 16,630 shares in the last quarter. Institutional investors own 30.96% of the company's stock.

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.