Kopin (NASDAQ:KOPN) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Kopin (NASDAQ:KOPN) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, Canaccord Genuity Group lowered their price objective on shares of Kopin from $2.50 to $2.25 and set a “buy” rating for the company in a research note on Monday, April 21st.

Kopin Trading Down 1.5%

NASDAQ KOPN opened at $1.94 on Friday. The firm’s fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $1.48. Kopin has a 12-month low of $0.56 and a 12-month high of $2.50. The firm has a market capitalization of $315.84 million, a P/E ratio of -21.56 and a beta of 2.74.

Kopin (NASDAQ:KOPN) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Kopin had a negative return on equity of 66.91% and a negative net margin of 29.47%. The firm had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $10.57 million. As a group, sell-side analysts predict that Kopin will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kopin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PEAK6 LLC lifted its stake in shares of Kopin by 12.5% during the first quarter. PEAK6 LLC now owns 71,200 shares of the company’s stock worth $66,000 after buying an additional 7,900 shares during the period. Jefferies Financial Group Inc. raised its holdings in shares of Kopin by 10.4% during the first quarter. Jefferies Financial Group Inc. now owns 104,564 shares of the company’s stock worth $97,000 after purchasing an additional 9,864 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Kopin by 19.0% during the second quarter. Fisher Asset Management LLC now owns 65,875 shares of the company’s stock worth $101,000 after purchasing an additional 10,515 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Kopin during the second quarter worth $25,000. Finally, Millennium Management LLC raised its holdings in shares of Kopin by 6.3% during the fourth quarter. Millennium Management LLC now owns 279,459 shares of the company’s stock worth $380,000 after purchasing an additional 16,630 shares during the last quarter. 30.96% of the stock is currently owned by institutional investors and hedge funds.

About Kopin

Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products.