Short Interest in Kopin Co. (NASDAQ:KOPN) Declines By 6.9%

Kopin Co. (NASDAQ:KOPN) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,550,000 shares, a drop of 6.9% from the September 30th total of 2,740,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 2.5 days.

Kopin Stock Performance

NASDAQ:KOPN opened at $0.76 on Thursday. The company has a 50-day moving average of $0.82 and a 200-day moving average of $0.87. The company has a market capitalization of $89.53 million, a price-to-earnings ratio of -1.80 and a beta of 2.60. Kopin has a 52 week low of $0.56 and a 52 week high of $2.82.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Kopin had a negative net margin of 114.11% and a negative return on equity of 131.82%. The firm had revenue of $12.34 million for the quarter, compared to the consensus estimate of $9.32 million. During the same period in the prior year, the business earned ($0.07) earnings per share. Sell-side analysts forecast that Kopin will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Kopin

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Kopin by 494.4% in the 2nd quarter. Renaissance Technologies LLC now owns 846,069 shares of the company’s stock valued at $711,000 after acquiring an additional 703,740 shares in the last quarter. Affinity Capital Advisors LLC acquired a new stake in Kopin in the 3rd quarter valued at about $54,000. Virtu Financial LLC increased its position in Kopin by 329.4% in the 1st quarter. Virtu Financial LLC now owns 77,916 shares of the company’s stock valued at $140,000 after acquiring an additional 59,770 shares in the last quarter. Silverberg Bernstein Capital Management LLC increased its position in Kopin by 8.5% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 678,204 shares of the company’s stock valued at $570,000 after acquiring an additional 53,300 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its position in Kopin by 80.5% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 107,600 shares of the company’s stock valued at $90,000 after acquiring an additional 48,000 shares in the last quarter. 30.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KOPN has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Kopin from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Kopin in a report on Monday, October 21st. Finally, StockNews.com downgraded shares of Kopin from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd.

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.