Kopin Co. (NASDAQ:KOPN) Sees Significant Increase in Short Interest

Kopin Co. (NASDAQ:KOPN) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,980,000 shares, an increase of 108.4% from the January 15th total of 1,910,000 shares. Based on an average daily volume of 4,580,000 shares, the days-to-cover ratio is currently 0.9 days.

Kopin Trading Up 1.8 %

NASDAQ:KOPN opened at $1.66 on Friday. The stock has a fifty day simple moving average of $1.45 and a 200 day simple moving average of $1.07. Kopin has a 1-year low of $0.56 and a 1-year high of $2.80.

Kopin (NASDAQ:KOPN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $13.32 million during the quarter, compared to analysts’ expectations of $12.73 million. Kopin had a negative net margin of 109.38% and a negative return on equity of 165.86%. During the same period last year, the company posted ($0.02) earnings per share. Sell-side analysts anticipate that Kopin will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Kopin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position 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 buying an additional 5,550,000 shares during the period. Stifel Financial Corp boosted its position in Kopin by 303.7% during the 3rd quarter. Stifel Financial Corp now owns 626,413 shares of the company’s stock worth $457,000 after acquiring an additional 471,258 shares during the period. Geode Capital Management LLC grew its stake in Kopin by 34.3% during the 4th quarter. Geode Capital Management LLC now owns 1,599,109 shares of the company’s stock valued at $2,175,000 after acquiring an additional 408,396 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Kopin in the 4th quarter valued at about $307,000. Finally, Jane Street Group LLC purchased a new stake in shares of Kopin in the fourth quarter worth approximately $300,000. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KOPN. StockNews.com lowered Kopin from a “hold” rating to a “sell” rating in a report on Saturday, December 21st. Canaccord Genuity Group upped their price target on shares of Kopin from $2.00 to $2.50 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Kopin in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2.63.

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.