Kopin (NASDAQ:KOPN) Trading Down 6.7% - What's Next?

Key Points

• Kopin shares fell 6.7% on Thursday, trading as low as $3.91 amid much lighter-than-normal volume. The stock had closed at $4.23 the prior day.
• Wall Street sentiment remains mixed but generally positive, with five Buy ratings and a consensus Moderate Buy rating. Analysts’ average price target is $7.15, above the current share price.
• In its latest earnings report, Kopin missed EPS estimates by one cent but beat revenue expectations with $10.55 million in sales. Insider selling has also been notable, including recent sales by the CEO and COO.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) shares were down 6.7% during trading on Thursday . The stock traded as low as $3.91 and last traded at $3.9450. Approximately 387,972 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 5,750,975 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised Kopin from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. JonesTrading assumed coverage on Kopin in a research report on Monday, April 27th. They set a "buy" rating and a $6.00 price target on the stock. Lake Street Capital upped their price target on Kopin from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Zacks Research downgraded Kopin from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Kopin from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.15.

Kopin Trading Down 11.2%

The stock has a market capitalization of $686.86 million, a PE ratio of 375.88 and a beta of 3.47. The stock has a 50 day moving average price of $4.81 and a 200-day moving average price of $3.40.

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

Insider Activity at Kopin

In related news, COO Paul Christopher Baker sold 58,939 shares of Kopin stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total transaction of $288,801.10. Following the transaction, the chief operating officer directly owned 420,025 shares in the company, valued at approximately $2,058,122.50. The trade was a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the business's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the sale, the chief executive officer directly owned 2,771,122 shares of the company's stock, valued at $8,341,077.22. This represents a 3.38% decrease in their position. 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 273,640 shares of company stock valued at $1,046,867 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KOPN. Geode Capital Management LLC lifted its holdings in Kopin by 106.8% during the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock valued at $5,353,000 after purchasing an additional 1,806,632 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kopin by 113,958.1% during the 2nd 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 stake in shares of Kopin during the 2nd quarter valued at $25,000. Rhumbline Advisers purchased a new position in shares of Kopin during the 2nd quarter valued at $259,000. Finally, Prudential Financial Inc. purchased a new position in shares of Kopin during the 2nd quarter valued at $25,000. 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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