Kopin (NASDAQ:KOPN) Shares Down 7.4% - Should You Sell?

Key Points

• Kopin Corporation's shares experienced a significant drop of 7.4%, trading as low as $3.33, with approximately 5.55 million shares changing hands, a 40% increase in volume.
• Analysts have given mixed ratings for Kopin, with Weiss Ratings reaffirming a "sell" rating and Lake Street Capital upgrading their price target to $3.00 while maintaining a "buy" rating.
• The company reported a quarterly loss of ($0.03) EPS, missing estimates, with revenue of $8.46 million, significantly below the anticipated $10.57 million.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) shares dropped 7.4% during mid-day trading on Tuesday . The company traded as low as $3.33 and last traded at $3.31. Approximately 5,550,235 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 3,955,647 shares. The stock had previously closed at $3.57.

Analysts Set New Price Targets

KOPN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kopin in a research report on Saturday, September 27th. Wall Street Zen cut Kopin from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Lake Street Capital lifted their price target on Kopin from $2.50 to $3.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Finally, Canaccord Genuity Group lifted their price target on Kopin from $2.50 to $3.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $3.00.

Kopin Trading Down 3.8%

The stock has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $1.67. The stock has a market cap of $559.25 million, a P/E ratio of -37.99 and a beta of 2.98.

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

Hedge Funds Weigh In On Kopin

Several hedge funds and other institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. increased its stake in shares of Kopin by 1.5% in the 2nd quarter. AWM Investment Company Inc. now owns 9,863,887 shares of the company's stock valued at $15,092,000 after purchasing an additional 149,188 shares during the last quarter. Royce & Associates LP lifted its holdings in Kopin by 3.3% during the 1st quarter. Royce & Associates LP now owns 7,981,832 shares of the company's stock worth $7,441,000 after buying an additional 255,450 shares during the period. Telemark Asset Management LLC lifted its stake in shares of Kopin by 33.3% in the 2nd quarter. Telemark Asset Management LLC now owns 4,000,000 shares of the company's stock valued at $6,120,000 after purchasing an additional 1,000,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock valued at $5,353,000 after purchasing an additional 1,806,632 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Kopin during the 2nd quarter worth approximately $1,834,000. Institutional investors 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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