Kopin (NASDAQ:KOPN) Shares Down 7.1% Following Insider Selling

Key Points

• Kopin shares fell 7.1% after insider selling news, with the stock trading as low as $4.98 during the session and finishing near $5.03. Trading volume was slightly below the daily average.
• Chief Operating Officer Paul Christopher Baker sold 58,939 shares for about $288,801 in a transaction made under a pre-arranged Rule 10b5-1 plan. After the sale, he still held 420,025 shares.
• Analyst sentiment remains mixed but generally positive, with a Moderate Buy consensus and an average target price of $5.60. Recent ratings included buy and strong-buy calls, though one firm still has a sell rating on the stock.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) shares were down 7.1% during mid-day trading on Monday following insider selling activity. The stock traded as low as $4.98 and last traded at $5.0270. Approximately 4,211,684 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 4,601,543 shares. The stock had previously closed at $5.41.

Specifically, COO Paul Christopher Baker sold 58,939 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total transaction of $288,801.10. Following the sale, the chief operating officer owned 420,025 shares in the company, valued at $2,058,122.50. This represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

KOPN has been the topic of several research reports. Weiss Ratings restated a "sell (e+)" rating on shares of Kopin in a research note on Thursday, January 22nd. Zacks Research upgraded Kopin from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Lake Street Capital restated a "buy" rating and set a $5.00 price objective on shares of Kopin in a research note on Wednesday, April 29th. JonesTrading initiated coverage on Kopin in a research note on Monday, April 27th. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Wall Street Zen upgraded Kopin from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.60.

Kopin Trading Down 6.7%

The business has a 50-day moving average price of $2.72 and a two-hundred day moving average price of $2.70. The firm has a market capitalization of $925.07 million, a price-to-earnings ratio of 499.00 and a beta of 3.40.

Kopin (NASDAQ:KOPN - Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.06. The business had revenue of $8.37 million for the quarter, compared to analysts' expectations of $12.98 million. Kopin had a return on equity of 8.53% and a net margin of 6.63%. On average, equities research analysts predict that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kopin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new position in Kopin in the 3rd quarter worth approximately $976,000. Herald Investment Management Ltd grew its holdings in Kopin by 30.3% in the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company's stock worth $4,860,000 after buying an additional 465,000 shares in the last quarter. Telemark Asset Management LLC grew its holdings in Kopin by 25.0% in the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company's stock worth $12,150,000 after buying an additional 1,000,000 shares in the last quarter. DNB Asset Management AS grew its holdings in Kopin by 144.1% in the 3rd quarter. DNB Asset Management AS now owns 579,945 shares of the company's stock worth $1,409,000 after buying an additional 342,389 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new position in Kopin in the 3rd quarter worth approximately $729,000. 30.96% of the stock is owned by institutional investors.

About Kopin

Kopin Corporation NASDAQ: KOPN is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.

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