Kopin Target of Unusually High Options Trading (NASDAQ:KOPN)

Key Points

• Options activity surged: Investors purchased 14,202 Kopin call options, about 65% above the average volume of 8,633 contracts.
• Analysts remain broadly positive: Kopin has a consensus “Moderate Buy” rating and a $7.15 price target, with several firms recently raising their targets to between $6.00 and $7.00.
• Shares jumped 22% to $5.13: The stock traded on unusually high volume, while institutional investors owned 30.96% of the company. Kopin’s latest quarterly revenue exceeded estimates, although earnings per share missed expectations.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 14,202 call options on the company. This represents an increase of approximately 65% compared to the average volume of 8,633 call options.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Kopin from $5.50 to $6.25 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Lake Street Capital lifted their price objective on shares of Kopin from $5.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. JonesTrading assumed coverage on Kopin in a report on Monday, April 27th. They set a "buy" rating and a $6.00 target price on the stock. Zacks Research downgraded shares of Kopin from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus boosted their target price on Kopin from $5.50 to $6.50 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kopin currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.15.

Hedge Funds Weigh In On Kopin

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Kopin during the second quarter worth $33,000. EWA LLC acquired a new stake in Kopin in the fourth quarter valued at approximately $25,000. Cibc World Markets Corp acquired a new stake in Kopin in the 4th quarter valued at $28,000. Russell Investments Group Ltd. acquired a new position in shares of Kopin during the third quarter valued at about $33,000. Finally, Principal Financial Group Inc. increased its holdings in Kopin by 30.7% during the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company's stock worth $31,000 after purchasing an additional 3,243 shares in the last quarter. 30.96% of the stock is currently owned by institutional investors.

Kopin Trading Up 22.0%

KOPN stock traded up $0.93 during mid-day trading on Tuesday, hitting $5.13. The stock had a trading volume of 8,021,251 shares, compared to its average volume of 5,588,985. Kopin has a 52 week low of $1.68 and a 52 week high of $6.61. The firm has a market capitalization of $939.29 million, a P/E ratio of 512.51 and a beta of 3.51. The firm has a fifty day simple moving average of $4.29 and a 200 day simple moving average of $3.53.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $10.55 million during the quarter, compared to analyst estimates of $9.96 million. Kopin had a net margin of 5.00% and a return on equity of 4.85%. As a group, equities analysts expect that Kopin will post -0.02 earnings per share for the current fiscal year.

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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