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Why Did Kopin Corporation (NASDAQ: KOPN) Drop So Much?

Kopin Corporation (NASDAQ:KOPN) traded at $1.16 at last check on Tuesday, 01/24/23, made a downward move of -4.51% on its previous day’s price.

Looking at the stock we see that its previous close was $1.22 and the beta (5Y monthly) reads 2.54 with the day’s price range being $1.22 – $1.30. In terms of its 52-week price range, KOPN has a high of $3.12 and a low of $0.96. The company’s stock has gained about 5.17% over that past 30 days.

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Kopin Corporation has a market cap of $117.03 million and is expected to release its quarterly earnings report on Mar 06, 2023 – Mar 10, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.03, with the EPS growth for the year raised at -$0.15 for 2022 and -$0.09 for next year. These figures represent -50.00% and 40.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $11.18 million, with a low of $11 million and a high of $11.36 million. The median projection represents growth adding up to -15.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $46.39 million, or 1.60% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the KOPN stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is -15.58% off its SMA20 and -17.28% from its 50-day simple moving average. The RSI (14) is pointing at 38.33 while the volatility over the past week is 11.53% and jumps to 9.20% over the past one month. The beta value is 2.53, while the average true range (ATR) is currently pointing at 0.13.

Let’s briefly compare Kopin Corporation (KOPN) stock to its peers. We find that today’s price change of -4.51% and -61.51% over the past 12 months for KOPN competes that of eMagin Corporation (EMAN), which has seen its stock price rise 1.55% in the latest trading session and is -18.64% over the last one year. Another of its peers Himax Technologies Inc. (HIMX) has dropped -0.52% today, and was -30.15% down over the past year, while Skyworks Solutions Inc. (SWKS) is also down -0.82% yet, while its price remains in the red at -23.30% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.

Coming back to Kopin Corporation (NASDAQ:KOPN), we note that the average 3-month trading volume was 556.03K, while that of the preceding 10-day period stands at 0.77 million. Current shares outstanding are 93.52 million.

The insiders hold 0.90% of the company’s shares while institutions hold 18.30%. The data shows that short shares as of Dec 29, 2022, stood at 1.12 million at a short ratio of 2.35. This represents a 1.18% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 1.27 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -1.61% down in year-to-date price movement.

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