Kopin (NASDAQ:KOPN) Reaches New 1-Year High - Here's What Happened

Key Points

• Kopin Corporation's stock price reached a new 52-week high of $3.69 before closing at $3.54, with a trading volume of 997,864 shares.
• Several analysts have issued mixed ratings, with three giving it a Buy rating and one a Sell rating, while the consensus target price stands at $3.00.
• The company reported a loss of ($0.03) earnings per share, which missed analysts’ estimates, and had revenues of $8.46 million for the quarter.

Kopin Corporation (NASDAQ:KOPN - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $3.69 and last traded at $3.54, with a volume of 997864 shares changing hands. The stock had previously closed at $3.39.

Wall Street Analyst Weigh In

KOPN has been the topic of several recent research reports. Wall Street Zen downgraded shares of Kopin from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kopin in a report on Wednesday, October 8th. Canaccord Genuity Group upped their price objective 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. Finally, Lake Street Capital raised 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 investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.00.

Kopin Stock Up 9.9%

The company has a market cap of $606.63 million, a price-to-earnings ratio of -39.28 and a beta of 2.98. The firm's 50 day simple moving average is $2.34 and its 200 day simple moving average is $1.75.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). The business had revenue of $8.46 million for the quarter, compared to the consensus estimate of $10.57 million. Kopin had a negative return on equity of 66.91% and a negative net margin of 29.47%. Analysts anticipate that Kopin Corporation will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. acquired a new stake in Kopin in the second quarter valued at $25,000. Legal & General Group Plc acquired a new stake in shares of Kopin during the 2nd quarter worth about $25,000. O Connor Financial Group LLC acquired a new stake in shares of Kopin during the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Kopin during the 2nd quarter worth about $49,000. Finally, Virtu Financial LLC acquired a new stake in shares of Kopin during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 30.96% of the company's stock.

Kopin Company Profile

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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