Kopin (NASDAQ:KOPN) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Kopin Corporation's shares have crossed above the two hundred day moving average, trading at $2.53 with a 200-day moving average of $1.53.
• Wall Street analysts have lowered Kopin's rating from "hold" to "sell," despite a consensus rating of "buy" from two other analysts.
• The company reported a quarterly loss of ($0.03) per share, missing estimates and with revenue of $8.46 million, below the anticipated $10.57 million.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.53 and traded as high as $2.67. Kopin shares last traded at $2.53, with a volume of 14,354,422 shares.

Wall Street Analyst Weigh In

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

Kopin Stock Up 11.6%

The stock's 50-day simple moving average is $2.03 and its 200 day simple moving average is $1.56. The firm has a market cap of $439.59 million, a P/E ratio of -30.00 and a beta of 2.96.

Kopin (NASDAQ:KOPN - Get Free Report) last announced 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). 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 analyst estimates of $10.57 million. On average, research analysts forecast that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kopin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PEAK6 LLC raised its holdings in shares of 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. grew its holdings in Kopin by 10.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 104,564 shares of the company's stock worth $97,000 after acquiring an additional 9,864 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Kopin by 19.0% in the 2nd quarter. Fisher Asset Management LLC now owns 65,875 shares of the company's stock worth $101,000 after acquiring an additional 10,515 shares during 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 and hedge funds 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.