Kopin (NASDAQ:KOPN) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.42 and traded as high as $2.79. Kopin shares last traded at $2.64, with a volume of 2,823,155 shares.

Analysts Set New Price Targets

A number of research firms have commented on KOPN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a report on Wednesday, October 8th. Lake Street Capital lifted their price objective on Kopin from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Craig Hallum initiated coverage on Kopin in a report on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group raised their target price on Kopin from $3.00 to $3.25 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Wall Street Zen upgraded Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kopin has an average rating of “Moderate Buy” and an average target price of $4.69.

Kopin Stock Down 2.9%

The company’s fifty day moving average price is $2.58 and its two-hundred day moving average price is $2.42. The company has a market cap of $481.83 million, a price-to-earnings ratio of -66.00 and a beta of 2.70.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $11.96 million for the quarter, compared to analysts’ expectations of $13.89 million. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%. On average, equities research analysts predict that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KOPN. Prudential Financial Inc. bought a new position in shares of Kopin during the 2nd quarter worth approximately $25,000. Legal & General Group Plc acquired a new position in Kopin during the second quarter worth $25,000. O Connor Financial Group LLC acquired a new position in Kopin during the second quarter worth $32,000. Bravias Capital Group LLC bought a new position in Kopin in the third quarter valued at $32,000. Finally, Russell Investments Group Ltd. acquired a new stake in Kopin in the 3rd quarter valued at $33,000. 30.96% of the stock is currently owned by institutional investors.

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.