Kopin (NASDAQ:KOPN) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Shares of Kopin Corporation (NASDAQ:KOPN - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.37 and traded as high as $1.58. Kopin shares last traded at $1.53, with a volume of 2,171,252 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KOPN. Canaccord Genuity Group dropped their target price on shares of Kopin from $2.50 to $2.25 and set a "buy" rating for the company in a research report on Monday, April 21st. Wall Street Zen upgraded Kopin from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st.

Kopin Trading Down 0.7%

The stock has a market cap of $247.46 million, a PE ratio of -13.82 and a beta of 2.85. The company's 50 day moving average is $1.43 and its 200-day moving average is $1.37.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $14.65 million during the quarter, compared to the consensus estimate of $11.15 million. Kopin had a negative return on equity of 87.81% and a negative net margin of 28.70%. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, analysts forecast that Kopin Corporation will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Kopin

Several large investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its holdings in shares of Kopin by 3.3% during the first quarter. Royce & Associates LP now owns 7,981,832 shares of the company's stock worth $7,441,000 after purchasing an additional 255,450 shares during the period. Telemark Asset Management LLC bought a new position in Kopin in the first quarter worth about $2,797,000. Geode Capital Management LLC boosted its stake in Kopin by 34.3% in the fourth quarter. Geode Capital Management LLC now owns 1,599,109 shares of the company's stock valued at $2,175,000 after acquiring an additional 408,396 shares during the period. Silverberg Bernstein Capital Management LLC boosted its stake in Kopin by 7.9% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 737,504 shares of the company's stock valued at $688,000 after acquiring an additional 53,800 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of Kopin by 140.9% during the fourth quarter. Two Sigma Investments LP now owns 562,037 shares of the company's stock valued at $764,000 after purchasing an additional 328,713 shares during the last quarter. 30.96% of the stock is currently owned by institutional investors.

Kopin Company Profile

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.