Kopin (NASDAQ:KOPN) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Kopin Corporation (NASDAQ:KOPN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.36 and traded as high as $2.59. Kopin shares last traded at $2.53, with a volume of 2,815,362 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Stifel Nicolaus began coverage on shares of Kopin in a report on Friday, October 17th. They issued a “buy” rating and a $5.50 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a report on Wednesday, October 8th. Lake Street Capital raised their price target on Kopin from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Canaccord Genuity Group boosted their price objective on Kopin from $3.00 to $3.25 and gave the company a “buy” rating in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.69.

Kopin Price Performance

The stock has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.36. The company has a market cap of $446.05 million, a P/E ratio of -61.10 and a beta of 2.72.

Kopin (NASDAQ:KOPN) last announced its earnings results on Wednesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%.The firm had revenue of $11.96 million for the quarter, compared to the consensus estimate of $13.89 million. As a group, analysts forecast that Kopin Corporation will post -0.14 earnings per share for the current year.

Institutional Trading of Kopin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AWM Investment Company Inc. raised its holdings in Kopin by 1.5% during the second quarter. AWM Investment Company Inc. now owns 9,863,887 shares of the company’s stock worth $15,092,000 after purchasing an additional 149,188 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kopin by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after purchasing an additional 945,662 shares in the last quarter. Telemark Asset Management LLC increased its position in shares of Kopin by 25.0% during the 3rd quarter. Telemark Asset Management LLC now owns 5,000,000 shares of the company’s stock valued at $12,150,000 after purchasing an additional 1,000,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock worth $5,353,000 after buying an additional 1,806,632 shares in the last quarter. Finally, Herald Investment Management Ltd raised its stake in shares of Kopin by 30.3% in the 3rd quarter. Herald Investment Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,860,000 after buying an additional 465,000 shares in the last quarter. 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.