Kopin (NASDAQ:KOPN) Shares Gap Up - Time to Buy?

Key Points

• Kopin shares gapped up ahead of trading, opening at $4.20 after closing at $3.76, with heavy volume of about 1.53 million shares.
• Analysts remain broadly constructive: the stock has a consensus rating of “Moderate Buy” and an average price target of $7.15, though Zacks recently downgraded it to Hold.
• Recent results were mixed: Kopin missed EPS estimates by a penny in its latest quarter but beat revenue expectations, while analysts are expecting the company to post a small loss for the full year.

Shares of Kopin Corporation (NASDAQ:KOPN - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $3.76, but opened at $4.20. Kopin shares last traded at $4.2050, with a volume of 1,530,667 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KOPN. Zacks Research downgraded shares of Kopin from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. JonesTrading assumed coverage on shares of Kopin in a report on Monday, April 27th. They issued a "buy" rating and a $6.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of Kopin from $5.50 to $6.25 and gave the stock a "buy" rating in a report on Thursday, May 14th. Lake Street Capital increased their target price on shares of Kopin from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus raised their target price on Kopin from $5.50 to $6.50 and gave the company a "buy" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $7.15.

Kopin Price Performance

The firm has a fifty day simple moving average of $4.82 and a 200 day simple moving average of $3.38. The company has a market cap of $772.84 million, a price-to-earnings ratio of 423.92 and a beta of 3.47.

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

Insider Buying and Selling at Kopin

In other Kopin news, CEO Michael Andrew Murray sold 96,800 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $3.01, for a total transaction of $291,368.00. Following the completion of the sale, the chief executive officer directly owned 2,771,122 shares in the company, valued at $8,341,077.22. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 116,860 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction of $461,597.00. Following the sale, the chief operating officer owned 480,005 shares of the company's stock, valued at $1,896,019.75. This trade represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 273,640 shares of company stock worth $1,046,867 in the last quarter. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Kopin

A number of institutional investors have recently made changes to their positions in the business. EWA LLC bought a new stake in Kopin during the 4th quarter valued at approximately $25,000. Cibc World Markets Corp bought a new position in Kopin in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. bought a new position in Kopin in the 3rd quarter worth approximately $33,000. Principal Financial Group Inc. lifted its holdings in shares of Kopin by 30.7% during the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company's stock worth $31,000 after buying an additional 3,243 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Kopin during the first quarter worth approximately $32,000. 30.96% of the stock is currently 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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