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

Key Points

• Kopin shares jumped 25.3%, opening at $4.77 versus a prior close of $4.21 and later trading near $5.35 on heavy volume.
• Analyst sentiment remains positive overall: five analysts rate the stock a Buy, with a consensus target price of $7.15; recent targets range from $6.25 to $10.00.
• The company reported quarterly revenue of $10.55 million, beating expectations, but earnings per share of negative $0.02 missed estimates. Institutional investors own approximately 30.96% of Kopin.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $4.21, but opened at $4.77. Kopin shares last traded at $5.3450, with a volume of 2,744,941 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Lake Street Capital raised their price objective on shares of Kopin from $5.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Kopin from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. Canaccord Genuity Group increased their target price on Kopin from $5.50 to $6.25 and gave the company a "buy" rating in a report on Thursday, May 14th. Craig Hallum reissued a "buy" rating and issued a $10.00 target price on shares of Kopin in a report on Tuesday, May 12th. Finally, Weiss Ratings cut Kopin from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.15.

Kopin Trading Up 25.3%

The firm's fifty day moving average price is $4.29 and its 200-day moving average price is $3.53. The firm has a market cap of $964.90 million, a price-to-earnings ratio of 531.33 and a beta of 3.51.

Kopin (NASDAQ:KOPN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The company had revenue of $10.55 million during the quarter, compared to analysts' expectations of $9.96 million. On average, sell-side analysts expect that Kopin Corporation will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Kopin by 106.8% in the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock valued at $5,353,000 after buying an additional 1,806,632 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kopin by 113,958.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company's stock valued at $108,000 after acquiring an additional 70,654 shares during the period. Legal & General Group Plc acquired a new position in shares of Kopin in the 2nd quarter valued at $25,000. Rhumbline Advisers purchased a new stake in Kopin in the 2nd quarter valued at $259,000. Finally, Prudential Financial Inc. purchased a new stake in Kopin in the 2nd quarter valued at $25,000. Institutional investors and hedge funds 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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