Kopin (NASDAQ:KOPN) Shares Down 6.7% – What’s Next?

Kopin Corporation (NASDAQ:KOPN)’s share price dropped 6.7% on Thursday . The stock traded as low as $3.91 and last traded at $3.9450. Approximately 387,972 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 5,750,975 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

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

Kopin Price Performance

The stock has a 50 day moving average price of $4.75 and a 200-day moving average price of $3.41. The stock has a market capitalization of $696.93 million, a price-to-earnings ratio of 381.38 and a beta of 3.47.

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

Insider Activity at Kopin

In other news, COO Paul Christopher Baker sold 58,939 shares of the 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 completion of the sale, the chief operating officer directly owned 420,025 shares in the company, valued at $2,058,122.50. This represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 176,840 shares of company stock valued at $755,499 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Kopin

Several large investors have recently bought and sold shares of KOPN. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 1,806,632 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Kopin by 113,958.1% in the second quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company’s stock valued at $108,000 after purchasing an additional 70,654 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Kopin in the second quarter valued at approximately $25,000. Rhumbline Advisers purchased a new stake in shares of Kopin in the second quarter valued at approximately $259,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Kopin in the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 30.96% of the company’s stock.

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.