Kopin (NASDAQ:KOPN) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Kopin Corporation's share price surpassed its 200-day moving average at $1.59, peaking at $2.80 during trading, with the last trade at $2.61.
• Analysts from Lake Street Capital and Canaccord Genuity both raised their price targets for Kopin to $3.00, indicating a "buy" rating.
• Recent quarterly results revealed a earnings miss with a reported EPS of ($0.03), falling short of expectations of ($0.01), and a revenue of $8.46 million compared to projected figures.

Shares of Kopin Corporation (NASDAQ:KOPN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.59 and traded as high as $2.80. Kopin shares last traded at $2.61, with a volume of 4,220,496 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KOPN shares. Lake Street Capital raised their price objective on Kopin from $2.50 to $3.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Canaccord Genuity Group raised their price objective on Kopin from $2.50 to $3.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen downgraded Kopin from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Kopin currently has an average rating of "Buy" and an average target price of $3.00.

Kopin Stock Down 3.7%

The firm has a 50-day moving average of $2.09 and a two-hundred day moving average of $1.59. The company has a market capitalization of $424.93 million, a PE ratio of -29.00 and a beta of 2.96.

Kopin (NASDAQ:KOPN - Get Free Report) last announced 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). 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%. Equities analysts predict that Kopin Corporation will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new position in Kopin during the second quarter valued at approximately $25,000. Legal & General Group Plc purchased a new position in Kopin during the second quarter valued at approximately $25,000. O Connor Financial Group LLC purchased a new position in Kopin during the second quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Kopin in the second quarter valued at approximately $49,000. Finally, Virtu Financial LLC acquired a new stake in Kopin in the first quarter valued at approximately $36,000. 30.96% of the stock is currently 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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