Kopin (NASDAQ:KOPN) Trading Up 8.3% on Earnings Beat

Shares of Kopin Corporation (NASDAQ:KOPN) were up 8.3% on Monday following a better than expected earnings announcement. The stock traded as high as $2.80 and last traded at $2.88. Approximately 536,565 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 2,974,256 shares. The stock had previously closed at $2.66.

The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $8.37 million during the quarter, compared to the consensus estimate of $12.98 million. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KOPN shares. Wall Street Zen downgraded shares of Kopin from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kopin in a research report on Thursday, January 22nd. Four research 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, Kopin presently has a consensus rating of “Moderate Buy” and an average price target of $4.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KOPN. State Street Corp grew its position in shares of Kopin by 224.0% in the 4th quarter. State Street Corp now owns 11,119,885 shares of the company’s stock valued at $26,021,000 after acquiring an additional 7,687,358 shares during the period. Telemark Asset Management LLC lifted its holdings in Kopin by 40.0% during the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after purchasing an additional 2,000,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kopin by 106.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company’s stock valued at $5,353,000 after purchasing an additional 1,806,632 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Kopin in the fourth quarter valued at $2,925,000. Finally, Vanguard Group Inc. increased its holdings in shares of Kopin by 11.2% in the third quarter. Vanguard Group Inc. now owns 9,376,264 shares of the company’s stock valued at $22,784,000 after purchasing an additional 945,662 shares during the last quarter. Institutional investors own 30.96% of the company’s stock.

Kopin Price Performance

The company has a market capitalization of $496.43 million, a P/E ratio of 272.27 and a beta of 2.73. The company’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.65.

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.