Kopin (NASDAQ:KOPN) Stock Price Down 5.6% – Here’s What Happened

Kopin Corporation (NASDAQ:KOPN)’s stock price dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $4.29 and last traded at $4.3050. 516,831 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,389,592 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

Several analysts recently commented on KOPN shares. Canaccord Genuity Group boosted their price target on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a research report on Friday, August 14th. Zacks Research lowered Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings raised shares of Kopin from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Kopin from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.20.

Kopin Stock Performance

The stock’s 50 day simple moving average is $4.24 and its two-hundred day simple moving average is $3.89. The firm has a market capitalization of $815.97 million, a PE ratio of 109.78 and a beta of 3.57.

Hedge Funds Weigh In On Kopin

Institutional investors have recently added to or reduced their stakes in the stock. Capstone Financial Advisors Inc. purchased a new position in Kopin during the second quarter worth approximately $45,000. Sequoia Financial Advisors LLC grew its holdings in Kopin by 6.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 120,789 shares of the company’s stock valued at $541,000 after buying an additional 7,444 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Kopin in the 2nd quarter worth $67,000. Squarepoint Ops LLC increased its stake in shares of Kopin by 368.8% in the 2nd quarter. Squarepoint Ops LLC now owns 1,490,289 shares of the company’s stock worth $6,676,000 after acquiring an additional 1,172,369 shares during the last quarter. Finally, Connective Capital Management LLC purchased a new position in shares of Kopin during the 2nd quarter worth $406,000. Hedge funds and other institutional investors own 30.96% of the company’s stock.

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.