Kopin (NASDAQ:KOPN) Stock Jumps 9.6% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN)’s share price was up 9.6% during trading on Tuesday. The stock traded as high as $3.70 and last traded at $3.7250. Approximately 1,158,462 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 5,060,827 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

KOPN has been the topic of several research analyst reports. Weiss Ratings cut Kopin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Stifel Nicolaus set a $6.50 target price on shares of Kopin in a research note on Friday, September 25th. Canaccord Genuity Group boosted their target price on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a report on Friday, August 14th. Oppenheimer started coverage on shares of Kopin in a report on Thursday, September 17th. They set an “outperform” rating and a $7.00 target price for the company. Finally, Wall Street Zen raised shares of Kopin from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Six research 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

Kopin Trading Up 10.4%

The stock has a market capitalization of $697.94 million, a P/E ratio of 94.15 and a beta of 3.59. The company has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $3.76.

Hedge Funds Weigh In On Kopin

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Kopin during the second quarter valued at about $66,205,000. Focused Wealth Management Inc bought a new stake in Kopin in the 2nd quarter worth approximately $1,026,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Kopin in the second quarter worth approximately $2,542,000. Bank of America Corp DE bought a new position in Kopin during the second quarter valued at approximately $1,717,000. Finally, Squarepoint Ops LLC raised its stake in shares of 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 acquiring an additional 1,172,369 shares in the last quarter. 30.96% of the stock is currently owned by institutional investors.

Kopin Company Profile

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.