Kopin Sees Unusually High Options Volume (NASDAQ:KOPN)

Kopin Co. (NASDAQ:KOPN) was the target of unusually large options trading activity on Thursday. Stock traders bought 14,250 call options on the company. This is an increase of 1,241% compared to the typical daily volume of 1,063 call options.

Kopin Trading Up 18.6 %

Kopin stock traded up $0.27 during midday trading on Thursday, reaching $1.74. The stock had a trading volume of 64,194,318 shares, compared to its average volume of 8,519,405. Kopin has a 12 month low of $0.56 and a 12 month high of $2.82. The company has a market capitalization of $276.79 million, a P/E ratio of -4.23 and a beta of 2.71. The company has a fifty day moving average price of $1.20 and a two-hundred day moving average price of $0.98.

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

Institutional Trading of Kopin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Kopin by 494.4% during the second quarter. Renaissance Technologies LLC now owns 846,069 shares of the company’s stock valued at $711,000 after purchasing an additional 703,740 shares during the period. XTX Topco Ltd purchased a new stake in Kopin during the second quarter valued at about $32,000. Affinity Capital Advisors LLC purchased a new position in shares of Kopin in the third quarter worth about $54,000. Murphy Pohlad Asset Management LLC increased its holdings in shares of Kopin by 26.0% in the third quarter. Murphy Pohlad Asset Management LLC now owns 135,600 shares of the company’s stock worth $99,000 after buying an additional 28,000 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Kopin by 485.4% in the third quarter. Royce & Associates LP now owns 6,693,294 shares of the company’s stock worth $4,886,000 after purchasing an additional 5,550,000 shares during the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KOPN. Canaccord Genuity Group started coverage on Kopin in a research note on Thursday, January 2nd. They issued a “buy” rating and a $2.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Kopin in a research report on Wednesday, November 13th. Finally, StockNews.com lowered Kopin from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kopin has an average rating of “Moderate Buy” and an average target price of $2.50.

Kopin Company Profile

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.