Canaccord Genuity Group Forecasts Strong Price Appreciation for Kopin (NASDAQ:KOPN) Stock

Kopin (NASDAQ:KOPN) had its target price hoisted by equities researchers at Canaccord Genuity Group from $2.00 to $2.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 47.93% from the stock’s previous close.

KOPN has been the subject of a number of other research reports. StockNews.com downgraded shares of Kopin from a “hold” rating to a “sell” rating in a report on Saturday, December 21st. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Kopin in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.63.

Kopin Trading Up 3.0 %

NASDAQ:KOPN opened at $1.69 on Wednesday. The company has a market cap of $268.37 million, a P/E ratio of -4.12 and a beta of 2.71. Kopin has a twelve month low of $0.56 and a twelve month high of $2.82. The company’s 50-day moving average price is $1.30 and its 200-day moving average price is $1.02.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Kopin had a negative return on equity of 165.86% and a negative net margin of 109.38%. The firm had revenue of $13.32 million for the quarter, compared to the consensus estimate of $12.73 million. During the same quarter last year, the business posted ($0.02) earnings per share. On average, analysts expect that Kopin will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Focused Wealth Management Inc purchased a new stake in Kopin during the 4th quarter worth approximately $145,000. Penbrook Management LLC purchased a new stake in shares of Kopin during the fourth quarter worth $66,000. Murphy Pohlad Asset Management LLC raised its stake in shares of Kopin by 13.0% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 153,200 shares of the company’s stock valued at $208,000 after acquiring an additional 17,600 shares in the last quarter. O Connor Financial Group LLC purchased a new position in Kopin in the fourth quarter valued at $28,000. Finally, Stifel Financial Corp grew its stake in Kopin by 303.7% during the 3rd quarter. Stifel Financial Corp now owns 626,413 shares of the company’s stock worth $457,000 after purchasing an additional 471,258 shares in the last quarter. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

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.