Kopin (NASDAQ:KOPN) Shares Down 7% - Here's Why

Key Points

• Kopin Corporation's shares experienced a 7% drop, trading at $3.78, following a decline in trading volume by 60% compared to the average session.
• Several brokerage firms have issued mixed ratings on Kopin, with two firms initiating a "buy" rating and varying target prices, while Weiss Ratings reaffirmed a "sell" rating.
• The company's quarterly earnings report showed a loss with revenues underperforming estimates, leading analysts to project a consensus EPS of -0.14 for the current fiscal year.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) fell 7% on Wednesday . The company traded as low as $3.75 and last traded at $3.78. 1,679,193 shares were traded during mid-day trading, a decline of 60% from the average session volume of 4,174,135 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KOPN. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kopin in a research note on Wednesday, October 8th. Craig Hallum began coverage on shares of Kopin in a research note on Wednesday. They issued a "buy" rating and a $6.00 target price for the company. 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, September 16th. Wall Street Zen downgraded shares of Kopin from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Stifel Nicolaus assumed coverage on shares of Kopin in a research note on Friday, October 17th. They set a "buy" rating and a $5.50 price target for the company. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Kopin currently has a consensus rating of "Moderate Buy" and an average target price of $4.10.

Kopin Stock Down 12.6%

The stock has a market cap of $577.47 million, a price-to-earnings ratio of -39.50 and a beta of 2.98. The stock's fifty day moving average is $2.57 and its 200-day moving average is $1.87.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PFG Investments LLC acquired a new position in Kopin during the second quarter worth $245,000. Silverberg Bernstein Capital Management LLC boosted its holdings in Kopin by 43.7% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 1,059,709 shares of the company's stock worth $1,621,000 after purchasing an additional 322,205 shares during the last quarter. Cerity Partners LLC acquired a new position in Kopin during the first quarter worth $201,000. Royce & Associates LP boosted its holdings in Kopin by 3.3% during the first quarter. Royce & Associates LP now owns 7,981,832 shares of the company's stock worth $7,441,000 after purchasing an additional 255,450 shares during the last quarter. Finally, Telemark Asset Management LLC acquired a new position in Kopin during the first quarter worth $2,797,000. 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.

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