Kopin (NASDAQ:KOPN) Stock Price Up 8.7% - Here's Why

Key Points

• Kopin Corporation saw its stock price increase by 8.7%, reaching around $3.96, during mid-day trading amid a 75% drop in average session volume.
• Despite the recent price surge, analysts maintain a mixed outlook, with ratings ranging from a "buy" to a "sell"; the average target price is set at $3.63.
• The company's latest quarterly earnings report showed a miss on EPS estimates, with a reported loss of $0.03 per share against expectations of a $0.01 loss.

Kopin Corporation (NASDAQ:KOPN - Get Free Report)'s share price shot up 8.7% during mid-day trading on Monday . The company traded as high as $3.97 and last traded at $3.96. 1,032,832 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,150,196 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KOPN shares. Wall Street Zen cut shares of Kopin from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kopin in a research note on Wednesday, October 8th. Canaccord Genuity Group upped their target price on Kopin from $2.50 to $3.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Stifel Nicolaus began coverage on Kopin in a report on Friday. They set a "buy" rating and a $5.50 price target on the stock. Finally, Lake Street Capital upped their price objective on Kopin from $2.50 to $3.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3.63.

Kopin Stock Up 12.6%

The stock has a 50 day moving average of $2.49 and a 200 day moving average of $1.83. The company has a market capitalization of $667.52 million, a price-to-earnings ratio of -45.56 and a beta of 2.98.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). Kopin had a negative return on equity of 66.91% and a negative net margin of 29.47%.The firm had revenue of $8.46 million during the quarter, compared to analyst estimates of $10.57 million. As a group, sell-side analysts anticipate that Kopin Corporation will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Kopin

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. acquired a new position in Kopin in the second quarter valued at approximately $25,000. Legal & General Group Plc bought a new position in Kopin during the second quarter worth $25,000. O Connor Financial Group LLC bought a new stake in Kopin in the second quarter valued at $32,000. Bravias Capital Group LLC acquired a new position in shares of Kopin during the third quarter valued at about $32,000. Finally, Virtu Financial LLC bought a new position in shares of Kopin during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 30.96% of the company's stock.

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.

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