Kopin (NASDAQ:KOPN) Stock Price Up 7.7% – Still a Buy?

Kopin Corporation (NASDAQ:KOPN)’s stock price shot up 7.7% on Friday . The company traded as high as $3.91 and last traded at $3.9750. Approximately 3,205,767 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 5,765,379 shares. The stock had previously closed at $3.69.

Analyst Ratings Changes

KOPN has been the topic of a number of analyst reports. Wall Street Zen raised Kopin from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Stifel Nicolaus upped their price target on shares of Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Canaccord Genuity Group boosted their target price on shares of Kopin from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Craig Hallum restated a “buy” rating and issued a $10.00 target price on shares of Kopin in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.15.

Kopin Price Performance

The business’s fifty day simple moving average is $4.78 and its 200 day simple moving average is $3.41. The stock has a market cap of $711.01 million, a price-to-earnings ratio of 390.19 and a beta of 3.47.

Kopin (NASDAQ:KOPN) last issued its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The business had revenue of $10.55 million for the quarter, compared to analyst estimates of $9.96 million. As a group, equities analysts forecast that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kopin news, COO Paul Christopher Baker sold 58,939 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total value of $288,801.10. Following the transaction, the chief operating officer owned 420,025 shares of the company’s stock, valued at $2,058,122.50. This trade represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 176,840 shares of company stock worth $755,499 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kopin

Several institutional investors have recently made changes to their positions in the stock. EWA LLC bought a new stake in shares of Kopin in the 4th quarter worth approximately $25,000. Cibc World Markets Corp acquired a new position in shares of Kopin during the fourth quarter valued at $28,000. Russell Investments Group Ltd. acquired a new position in shares of Kopin during the third quarter valued at $33,000. Principal Financial Group Inc. increased its holdings in shares of Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock worth $31,000 after acquiring an additional 3,243 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Kopin in the 1st quarter worth about $32,000. 30.96% of the stock is 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.