Kopin (NASDAQ:KOPN) Share Price Passes Above 200 Day Moving Average - Here's Why

Kopin Co. (NASDAQ:KOPN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.28 and traded as high as $1.42. Kopin shares last traded at $1.34, with a volume of 2,897,508 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group dropped their price objective on Kopin from $2.50 to $2.25 and set a "buy" rating for the company in a report on Monday, April 21st. Wall Street Zen cut Kopin from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2.56.

Kopin Stock Performance

The firm's fifty day simple moving average is $1.16 and its 200-day simple moving average is $1.29. The stock has a market cap of $216.52 million, a P/E ratio of -3.24 and a beta of 3.16.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its earnings results on Thursday, April 17th. The company reported ($0.01) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.01). Kopin had a negative return on equity of 165.86% and a negative net margin of 109.38%. The business had revenue of $14.65 million during the quarter, compared to the consensus estimate of $11.15 million. During the same period in the previous year, the company posted ($0.04) earnings per share. Analysts predict that Kopin Co. will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC raised its stake in shares of Kopin by 13.0% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 153,200 shares of the company's stock worth $208,000 after purchasing an additional 17,600 shares during the last quarter. Penbrook Management LLC purchased a new position in shares of Kopin in the fourth quarter worth about $66,000. Focused Wealth Management Inc bought a new stake in Kopin during the 4th quarter valued at $145,000. Concurrent Investment Advisors LLC purchased a new stake in Kopin during the 4th quarter worth about $70,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Kopin in the fourth quarter valued at approximately $69,000. 30.96% of the stock is owned by institutional investors and hedge funds.

About Kopin

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.