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Monday, September 20, 2021

Why Kopin Corporation (KOPN) facing a drop in intraday trading?

Kopin Corporation (KOPN) is the manufacturer, solution provider, and seller of wearable products for military, enterprise, industrial, medical, and consumer markets in the United States. KOPN stock price saw a decline of 3.27% to drop at $7.99 a share on the recent check. KOPN stock seemed green at the closing time on Friday but now facing bearish sentiment. Let’s see the reason behind this drop.


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What’s Happening?

There was no news from KOPN stock to explain the drop in stock price, no earnings report from the company, no analyst downgraded or shrank the targeted KOPN stock price. This is making investors anxious about the KOPN stock.

Kopin Corporation on 2nd March 2021, announced its fourth quarter and fiscal year results of 2020. The results showed significant improvement in yearly revenue. Here is the summary of the fourth quarter and full-year results of 2020.

Fourth Quarter Results

  • Total revenue of the fourth quarter reached $13.9 million with a 60% rise as compared to $8.7 million in the same tenure of the previous year.
  • Product revenues and R&D revenues recorded growth of 50% and 56% YoY respectively in the fourth quarter.
  • Research and development expenses surged to $4.4 million as compared to $2.7 million in the fourth quarter of the previous year.
  • Selling, general and administrative (SG&A) expenses were decreased by 47% to $2.4 million in the fourth quarter as compared to $4.5 million in the same tenure of 2019.

Full Year 2020 Results

  • Total revenue for the fiscal year reached $40.1 million with a 36% rise as compared to $29.5 million in the prior year.
  • Product revenues and R&D revenues recorded growth of 41% and 103% respectively as compared to 2019.
  • Research and development expenses decreased to $11.7 million as compared to $13.3 million in the prior year.
  • Funded research and development expenses increased by 84% to $7.7 million as compared to $4.2 million in 2019.
  • Selling, general and administrative (SG&A) expenses were decreased by 45% to $11.8 million in 2020 as compared to $21.3 million in 2019.

Conclusion:

Considering the bearish sentiment, things are going against the KOPN stock price now but management thinks that Kopin’s wearables and 3D-measurement revenues will grow significantly in the future. Hence KOPN stock can be a good bet for long-term investors.

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