Kopin (NASDAQ:KOPN) Shares Gap Up – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.96, but opened at $3.30. Kopin shares last traded at $3.2950, with a volume of 6,539,661 shares traded.

Analysts Set New Price Targets

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

Kopin Price Performance

The stock has a market cap of $621.45 million, a price-to-earnings ratio of -85.65 and a beta of 2.70. The business’s 50 day moving average is $2.55 and its 200 day moving average is $2.47.

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

Hedge Funds Weigh In On Kopin

Several hedge funds have recently added to or reduced their stakes in the stock. PFG Investments LLC purchased a new stake in shares of Kopin during the 2nd quarter worth approximately $245,000. Sequoia Financial Advisors LLC acquired a new stake in Kopin during the 2nd quarter worth $128,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Kopin during the 2nd quarter worth $1,834,000. ProShare Advisors LLC purchased a new stake in Kopin in the second quarter valued at $271,000. Finally, Geode Capital Management LLC boosted its stake in Kopin by 106.8% in the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after acquiring an additional 1,806,632 shares in the last quarter. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Kopin Company Profile

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.