HC Wainwright Cuts Kopin (NASDAQ:KOPN) Price Target to $3.00

Kopin (NASDAQ:KOPN – Get Rating) had its price objective trimmed by HC Wainwright from $6.00 to $3.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Kopin’s Q1 2023 earnings at ($0.04) EPS, Q2 2023 earnings at ($0.04) EPS, Q3 2023 earnings at ($0.04) EPS, Q4 2023 earnings at ($0.03) EPS and FY2023 earnings at ($0.15) EPS.

Kopin Trading Down 8.7 %

Shares of KOPN stock opened at $0.94 on Wednesday. The business’s fifty day simple moving average is $1.27 and its 200-day simple moving average is $1.25. The company has a market cap of $88.88 million, a PE ratio of -4.70 and a beta of 2.48. Kopin has a 12-month low of $0.94 and a 12-month high of $2.88.

Kopin (NASDAQ:KOPN – Get Rating) last issued its quarterly earnings results on Tuesday, March 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $12.18 million for the quarter, compared to the consensus estimate of $11.00 million. Kopin had a negative return on equity of 55.12% and a negative net margin of 36.04%. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts forecast that Kopin will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Kopin

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Kopin by 420.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,103,439 shares of the company’s stock valued at $1,236,000 after acquiring an additional 891,475 shares during the period. Millennium Management LLC increased its position in shares of Kopin by 86.7% in the 2nd quarter. Millennium Management LLC now owns 1,863,130 shares of the company’s stock valued at $2,087,000 after acquiring an additional 865,051 shares during the period. Archon Capital Management LLC acquired a new position in shares of Kopin in the 4th quarter valued at $445,000. Essex Investment Management Co. LLC increased its position in shares of Kopin by 60.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 874,764 shares of the company’s stock valued at $919,000 after acquiring an additional 330,230 shares during the period. Finally, Cowen Prime Advisors LLC increased its position in shares of Kopin by 164.9% in the 4th quarter. Cowen Prime Advisors LLC now owns 530,400 shares of the company’s stock valued at $658,000 after acquiring an additional 330,200 shares during the period. 18.01% of the stock is owned by institutional investors and hedge funds.

Kopin Company Profile

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Kopin Corp. engages in the development, manufacture and sale of wearable technologies which include components and systems. Its portfolio includes AMLCD, LCOS displays, OLED displays, ASIC, backlights, and optical lenses. The firm uses semiconductor material technology to design, manufacture and market its component products for use in military, enterprise and consumer electronic applications, training and simulation equipment and 3D metrology equipment.