Kopin (NASDAQ:KOPN) Shares Up 10.5% – Still a Buy?

Kopin Corporation (NASDAQ:KOPN) rose 10.5% on Thursday . The company traded as high as $5.09 and last traded at $5.0850. Approximately 4,718,608 shares changed hands during trading, a decline of 18% from the average daily volume of 5,753,849 shares. The stock had previously closed at $4.60.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Craig Hallum reissued a “buy” rating and set a $10.00 price objective on shares of Kopin in a report on Tuesday, May 12th. Lake Street Capital boosted their target price on shares of Kopin from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Canaccord Genuity Group upped their target price on shares of Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.15.

Kopin Stock Up 12.0%

The stock has a market cap of $942.59 million, a P/E ratio of 515.02 and a beta of 3.43. The firm’s 50 day simple moving average is $4.25 and its two-hundred day simple moving average is $3.08.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9.96 million. As a group, equities analysts predict that Kopin Corporation will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the sale, the chief executive officer directly owned 2,931,122 shares in the company, valued at approximately $8,207,141.60. This represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Paul Christopher Baker sold 116,860 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total value of $461,597.00. Following the transaction, the chief operating officer owned 480,005 shares of the company’s stock, valued at $1,896,019.75. This represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 524,760 shares of company stock valued at $1,763,275. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kopin

A number of hedge funds have recently added to or reduced their stakes in KOPN. EWA LLC bought a new position in shares of Kopin during the fourth quarter worth about $25,000. Prudential Financial Inc. bought a new stake in Kopin in the 2nd quarter valued at about $25,000. Legal & General Group Plc bought a new stake in Kopin in the 2nd quarter valued at about $25,000. Cibc World Markets Corp bought a new position in Kopin in the 4th quarter worth about $28,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Kopin by 30.7% during the first quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after buying an additional 3,243 shares during the last quarter. 30.96% of the stock is currently owned by 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.