Kopin (NASDAQ:KOPN) Stock Price Down 6.8% – Time to Sell?

Shares of Kopin Corporation (NASDAQ:KOPN) were down 6.8% on Wednesday . The company traded as low as $2.96 and last traded at $2.9450. Approximately 1,478,181 shares traded hands during trading, a decline of 62% from the average daily volume of 3,897,098 shares. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

KOPN has been the subject of a number of recent analyst reports. Wall Street Zen raised Kopin from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Craig Hallum initiated coverage on shares of Kopin in a report on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Kopin in a report on Friday, October 17th. They set a “buy” rating and a $5.50 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a report on Wednesday, October 8th. Finally, Lake Street Capital lifted their price target on shares of Kopin from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.69.

Kopin Stock Down 8.6%

The company has a market cap of $521.98 million, a PE ratio of -71.50 and a beta of 2.70. The firm’s fifty day simple moving average is $2.60 and its 200-day simple moving average is $2.54.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%. The business had revenue of $11.96 million during the quarter, compared to analysts’ expectations of $13.89 million. On average, analysts predict that Kopin Corporation will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Kopin

A number of institutional investors have recently made changes to their positions in the stock. Bravias Capital Group LLC acquired a new stake in shares of Kopin during the third quarter valued at $32,000. Russell Investments Group Ltd. purchased a new position in Kopin in the 3rd quarter valued at about $33,000. Prudential Financial Inc. acquired a new stake in shares of Kopin during the 2nd quarter worth about $25,000. Legal & General Group Plc purchased a new stake in shares of Kopin during the second quarter worth about $25,000. Finally, AE Wealth Management LLC grew its holdings in shares of Kopin by 68.7% during the third quarter. AE Wealth Management LLC now owns 16,873 shares of the company’s stock worth $41,000 after buying an additional 6,873 shares in the last quarter. 30.96% of the stock is owned by institutional investors and hedge funds.

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.