Kopin (NASDAQ:KOPN) Stock Falls 8.6% - Here's What Happened

Key Points

• Kopin shares fell 8.6% to about $4.18 in mid-day trading, with 1.88 million shares changing hands—64% below average volume.
• Analysts remain broadly optimistic, with six Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $7.17.
• Kopin develops microdisplays, optical systems and wearable-computing components for defense, aerospace, medical, industrial and consumer applications. Institutional investors own approximately 30.96% of the company.

Kopin Corporation (NASDAQ:KOPN - Get Free Report) shares were down 8.6% during mid-day trading on Thursday. The stock traded as low as $4.18 and last traded at $4.1750. 1,883,902 shares traded hands during trading, a decline of 64% from the average session volume of 5,185,491 shares. The stock had previously closed at $4.57.

Wall Street Analysts Forecast Growth

Several research firms have commented on KOPN. Stifel Nicolaus set a $6.50 price objective on Kopin in a research note on Friday, September 25th. Oppenheimer initiated coverage on Kopin in a research note on Thursday, September 17th. They issued an "outperform" rating and a $7.00 price objective for the company. Weiss Ratings raised shares of Kopin from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Kopin from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Canaccord Genuity Group boosted their price target on shares of Kopin from $6.25 to $6.50 and gave the stock a "buy" rating in a research report on Friday, August 14th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.17.

Kopin Price Performance

The business's 50 day moving average price is $4.58 and its 200-day moving average price is $4.22. The firm has a market capitalization of $781.58 million, a price-to-earnings ratio of 105.15 and a beta of 3.59.

Institutional Trading of Kopin

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Kopin by 30.7% in the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company's stock valued at $31,000 after purchasing an additional 3,243 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Kopin in the first quarter worth approximately $32,000. Meeder Asset Management Inc. purchased a new position in shares of Kopin in the 2nd quarter worth about $33,000. Quantbot Technologies LP purchased a new stake in shares of Kopin during the 2nd quarter worth about $39,000. Finally, Allworth Financial LP acquired a new stake in Kopin during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 30.96% of the company's stock.

Kopin Company Profile

Kopin Corporation NASDAQ: KOPN develops and supplies wearable computing technologies, including microdisplays, optical systems and related components. Its products are designed for applications that require compact, high-resolution displays and hands-free access to information.

The company's offerings have included liquid crystal, OLED and other microdisplay technologies, as well as display modules, lenses and customized optical systems. Kopin serves defense and aerospace, industrial, medical and consumer electronics markets, with products intended for applications such as head-mounted displays, night vision, thermal imaging, training systems and wearable computing devices.

Founded in 1984, Kopin is headquartered in Westborough, Massachusetts, and sells its technologies to customers and partners in the United States and international markets.

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