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

Kopin Corporation (NASDAQ:KOPN) shares were up 9.6% during trading on Tuesday. The stock traded as high as $3.70 and last traded at $3.7250. 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

A number of brokerages recently commented on KOPN. Canaccord Genuity Group raised their price target on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a research note on Friday, August 14th. Oppenheimer started coverage on Kopin in a research report on Thursday, September 17th. They issued an “outperform” rating and a $7.00 price objective on the stock. Wall Street Zen upgraded Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Stifel Nicolaus set a $6.50 target price on shares of Kopin in a research report on Friday, September 25th. Finally, Weiss Ratings cut shares of Kopin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kopin currently has an average rating of “Moderate Buy” and an average price target of $7.17.

Kopin Stock Performance

The company has a 50 day moving average of $4.43 and a 200 day moving average of $3.76. The stock has a market capitalization of $697.94 million, a price-to-earnings ratio of 94.15 and a beta of 3.59.

Institutional Investors Weigh In On Kopin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Kopin during the 2nd quarter worth about $66,205,000. AWM Investment Company Inc. acquired a new position in Kopin in the 2nd quarter valued at $35,948,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Kopin during the 2nd quarter worth approximately $6,368,000. Squarepoint Ops LLC increased its holdings in Kopin by 368.8% in the second quarter. Squarepoint Ops LLC now owns 1,490,289 shares of the company’s stock valued at $6,676,000 after buying an additional 1,172,369 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Kopin in the second quarter valued at approximately $2,542,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.

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.