Kopin Co. (NASDAQ:KOPN) Sees Large Growth in Short Interest

Kopin Co. (NASDAQ:KOPN) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,110,000 shares, a growth of 22.0% from the March 15th total of 3,370,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 5,200,000 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on KOPN shares. StockNews.com raised Kopin from a “sell” rating to a “hold” rating in a research note on Friday. Canaccord Genuity Group decreased their price target on Kopin from $2.50 to $2.25 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.56.

Kopin Trading Up 2.8 %

Shares of KOPN traded up $0.03 during trading hours on Monday, reaching $0.93. The company had a trading volume of 2,883,862 shares, compared to its average volume of 2,396,199. The company has a market capitalization of $147.84 million, a price-to-earnings ratio of -2.27 and a beta of 3.24. Kopin has a 12-month low of $0.56 and a 12-month high of $2.17. The firm has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $1.18.

Kopin (NASDAQ:KOPN) last released its quarterly earnings data on Thursday, April 17th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $14.65 million for the quarter, compared to analyst estimates of $11.15 million. Kopin had a negative net margin of 109.38% and a negative return on equity of 165.86%. During the same period in the previous year, the firm earned ($0.04) EPS. Sell-side analysts forecast that Kopin will post -0.14 earnings per share for the current year.

Institutional Trading of Kopin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in shares of Kopin during the 4th quarter worth about $25,000. O Connor Financial Group LLC acquired a new position in shares of Kopin during the fourth quarter worth about $28,000. One68 Global Capital LLC acquired a new stake in Kopin in the fourth quarter valued at approximately $30,000. Prudential Financial Inc. acquired a new position in Kopin in the 4th quarter worth $37,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Kopin by 271.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 30,530 shares of the company’s stock valued at $42,000 after purchasing an additional 22,316 shares during the last quarter. 30.96% of the stock is owned by hedge funds and other institutional investors.

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.