Kopin (NASDAQ:KOPN) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up pre-market to $3.30 from a $2.96 close and last traded at $3.295 on ~6.54 million shares, with the article noting roughly a 15% intraday gain.
• Analyst sentiment is mixed-to-positive: four Buy ratings and one Sell yield a consensus of "Moderate Buy" with an average price target of $4.69 and individual targets up to $6.00.
• Kopin beat EPS expectations for the quarter ($0.02 vs. -$0.01) but missed revenue estimates, and remains unprofitable with negative ROE/net margin and a negative reported PE amid a $621M market cap.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $2.96, but opened at $3.30. Kopin shares last traded at $3.2950, with a volume of 6,539,661 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Kopin in a report on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on shares of Kopin from $3.00 to $3.25 and gave the company a "buy" rating in a research note on Thursday, November 13th. Lake Street Capital increased their price target on shares of Kopin from $3.00 to $4.00 and gave the stock a "buy" rating in a report on Thursday, November 13th. Stifel Nicolaus started coverage on shares of Kopin in a report on Friday, October 17th. They issued a "buy" rating and a $5.50 price objective for the company. Finally, Craig Hallum began coverage on shares of Kopin in a research note on Wednesday, October 22nd. They set a "buy" rating and a $6.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.69.

Kopin Stock Up 15.0%

The stock has a 50-day simple moving average of $2.55 and a 200 day simple moving average of $2.47. The company has a market cap of $621.45 million, a PE ratio of -85.65 and a beta of 2.70.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The firm had revenue of $11.96 million during the quarter, compared to the consensus estimate of $13.89 million. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%. As a group, research analysts anticipate that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kopin

Hedge funds have recently made changes to their positions in the stock. AWM Investment Company Inc. raised its position in Kopin by 1.5% in the second 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 period. Vanguard Group Inc. grew its stake in shares of Kopin by 11.2% in the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company's stock valued at $22,784,000 after buying an additional 945,662 shares in the last quarter. Telemark Asset Management LLC raised its holdings in shares of Kopin by 25.0% in the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company's stock valued at $12,150,000 after buying an additional 1,000,000 shares during the period. Geode Capital Management LLC lifted its stake in Kopin by 106.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock worth $5,353,000 after acquiring an additional 1,806,632 shares in the last quarter. Finally, Herald Investment Management Ltd boosted its holdings in Kopin by 30.3% during the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company's stock valued at $4,860,000 after acquiring an additional 465,000 shares during the period. Hedge funds and other institutional investors own 30.96% of the company's stock.

Kopin Company Profile

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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