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Kopin (NASDAQ:KOPN) Shares Up 9.7% on Analyst Upgrade

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Key Points

  • Kopin shares rose 9.7% after Lake Street Capital lifted its price target from $5.00 to $7.00 and kept a buy rating. The stock traded as high as $5.51 on much heavier-than-normal volume.
  • Analyst sentiment remains broadly positive, with several firms recently raising targets or reiterating buy ratings. MarketBeat says the consensus rating is Moderate Buy with an average price target of $7.15.
  • Insider selling has been notable, including recent sales by the COO and CEO under pre-arranged trading plans. Over the past 90 days, insiders sold 524,760 shares worth $1.76 million, though institutional ownership also remains active.
  • Five stocks to consider instead of Kopin.

Kopin Corporation (NASDAQ:KOPN - Get Free Report)'s share price shot up 9.7% on Thursday after Lake Street Capital raised their price target on the stock from $5.00 to $7.00. Lake Street Capital currently has a buy rating on the stock. Kopin traded as high as $5.51 and last traded at $5.5080. 8,865,562 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 5,233,702 shares. The stock had previously closed at $5.02.

Other research analysts have also recently issued research reports about the stock. Craig Hallum restated a "buy" rating and set a $10.00 target price on shares of Kopin in a report on Tuesday. Zacks Research upgraded shares of Kopin from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Stifel Nicolaus increased their target price on shares of Kopin from $5.50 to $6.50 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings restated a "sell (e+)" rating on shares of Kopin in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group initiated coverage on shares of Kopin in a report on Friday, May 8th. They set a "buy" rating and a $5.50 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.15.

Read Our Latest Report on Kopin

Insider Buying and Selling at Kopin

In other Kopin news, COO Paul Christopher Baker sold 58,939 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total transaction of $288,801.10. Following the sale, the chief operating officer directly owned 420,025 shares of the company's stock, valued at approximately $2,058,122.50. This represents a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $3.01, for a total transaction of $291,368.00. Following the sale, the chief executive officer directly owned 2,771,122 shares in the company, valued at $8,341,077.22. This trade represents a 3.38% 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 have sold 524,760 shares of company stock worth $1,763,275 over the last ninety days. Insiders own 2.80% of the company's stock.

Key Stories Impacting Kopin

Here are the key news stories impacting Kopin this week:

Institutional Trading of Kopin

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOPN. Geode Capital Management LLC raised its position in Kopin by 106.8% during the second 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. JPMorgan Chase & Co. raised its position in shares of Kopin by 113,958.1% in the second quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company's stock valued at $108,000 after purchasing an additional 70,654 shares during the period. Legal & General Group Plc bought a new position in shares of Kopin in the second quarter valued at about $25,000. Rhumbline Advisers bought a new position in shares of Kopin in the second quarter valued at about $259,000. Finally, Prudential Financial Inc. bought a new position in shares of Kopin in the second quarter valued at about $25,000. 30.96% of the stock is owned by institutional investors.

Kopin Price Performance

The company has a market capitalization of $1.01 billion, a P/E ratio of 552.95 and a beta of 3.40. The company's 50-day moving average price is $2.95 and its two-hundred day moving average price is $2.74.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $10.55 billion 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 5.82%. On average, analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

About Kopin

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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