Kopin (NASDAQ:KOPN) Stock Price Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Kopin shares climbed above their 200-day moving average, reaching $3.96 before closing around $3.90, compared with the 200-day average of $3.77.
• Analyst sentiment is generally positive: six analysts rate the stock Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $7.17.
• Kopin reported stronger-than-expected quarterly results, including $12.73 million in revenue—up 50.62% year over year—and earnings of $0.00 per share versus the expected loss of $0.01.

Shares of Kopin Corporation (NASDAQ:KOPN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.77 and traded as high as $3.96. Kopin shares last traded at $3.90, with a volume of 3,436,801 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have commented on KOPN. Oppenheimer initiated coverage on Kopin in a research report on Thursday, September 17th. They issued an "outperform" rating and a $7.00 target price on the stock. Stifel Nicolaus set a $6.50 target price on Kopin in a research report on Friday, September 25th. Wall Street Zen upgraded Kopin from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Canaccord Genuity Group lifted their price objective on Kopin from $6.25 to $6.50 and gave the company a "buy" rating in a research note on Friday, August 14th. Finally, Weiss Ratings cut shares of Kopin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 23rd. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.17.

Kopin Price Performance

The stock has a 50-day moving average price of $4.38 and a 200 day moving average price of $3.77. The firm has a market cap of $724.90 million, a price-to-earnings ratio of 97.52 and a beta of 3.59.

Kopin (NASDAQ:KOPN - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.01. The firm had revenue of $12.73 million during the quarter, compared to analysts' expectations of $11.75 million. Kopin had a return on equity of 14.79% and a net margin of 18.26%. The business's revenue was up 50.62% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. As a group, equities research analysts predict that Kopin Corporation will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Kopin

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Kopin during the 2nd quarter worth $66,205,000. Focused Wealth Management Inc purchased a new position in shares of Kopin in the 2nd quarter valued at about $1,026,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Kopin in the second quarter valued at about $2,542,000. Bank of America Corp DE acquired a new stake in shares of Kopin in the second quarter valued at about $1,717,000. Finally, Squarepoint Ops LLC boosted its holdings in Kopin by 368.8% during the second quarter. Squarepoint Ops LLC now owns 1,490,289 shares of the company's stock worth $6,676,000 after buying an additional 1,172,369 shares in the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

About Kopin

Kopin Corporation NASDAQ: KOPN develops wearable computing technologies, microdisplays and optical systems for defense, enterprise, medical and consumer applications. Its products are designed to provide users with hands-free access to information through head-worn and other compact display systems.

The company's technologies include high-resolution liquid-crystal and OLED microdisplays, display modules, optical components and specialized software. Kopin integrates these components into systems such as head-mounted displays, helmet-mounted displays, thermal imaging and night-vision equipment, and wearable devices used in industrial, medical and other specialized environments.

Founded in 1984 and headquartered in Westborough, Massachusetts, Kopin serves customers and partners in the United States and international markets.

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