Kopin (NASDAQ:KOPN) Shares Gap Up - Should You Buy?

Key Points

• Kopin shares jumped from a $4.34 close to a $4.65 open, later trading near $4.72, with 812,421 shares changing hands.
• Analyst sentiment is generally positive: six analysts rate the stock Buy, with a consensus “Moderate Buy” rating and a $7.17 price target. Oppenheimer initiated coverage with an Outperform rating and a $7.00 target, while Canaccord raised its target to $6.50.
• Kopin has an approximately $893 million market capitalization and a high P/E ratio of 119.65; institutional investors and hedge funds own about 30.96% of the shares.

Kopin Corporation (NASDAQ:KOPN - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.34, but opened at $4.65. Kopin shares last traded at $4.7230, with a volume of 812,421 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KOPN. Zacks Research cut Kopin from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Wall Street Zen raised Kopin from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Oppenheimer began coverage on shares of Kopin in a research note on Thursday. They issued an "outperform" rating and a $7.00 target price on the stock. Canaccord Genuity Group upped their target price on shares of Kopin from $6.25 to $6.50 and gave the stock a "buy" rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Kopin from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. Six 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 data from MarketBeat.com, Kopin currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.17.

Kopin Stock Performance

The firm has a market capitalization of $893.11 million, a P/E ratio of 119.65 and a beta of 3.57. The stock has a 50-day moving average of $4.27 and a 200 day moving average of $3.95.

Institutional Trading of Kopin

A number of hedge funds and other institutional investors have recently made changes to their positions in KOPN. Principal Financial Group Inc. lifted its position in shares of Kopin by 30.7% during the first 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. Private Advisor Group LLC bought a new stake in shares of Kopin in the 1st quarter valued at $32,000. Meeder Asset Management Inc. bought a new position in shares of Kopin during the 2nd quarter valued at about $33,000. Quantbot Technologies LP acquired a new position in shares of Kopin in the 2nd quarter valued at approximately $39,000. Finally, Allworth Financial LP bought a new stake in Kopin during the 2nd quarter worth approximately $41,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.

Kopin Company Profile

Kopin Corporation is a technology company that develops microdisplays, wearable-computing systems and application-specific optical solutions. Its technologies are designed for use in defense, professional, medical, industrial and consumer products, where compact displays and hands-free access to information can support situational awareness, training, inspection and other specialized tasks.

The company's product portfolio has included miniature display technologies such as active-matrix liquid crystal displays, organic light-emitting diode displays and other microdisplay architectures, along with optical modules, eyepieces and related system components.

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