Royce & Associates LP Grows Stake in Kopin Corporation (NASDAQ:KOPN)

Key Points

• Royce & Associates LP increased its stake in Kopin Corporation by 3.3%, owning approximately 4.93% of the company, valued at $7.44 million.
• Analysts have adjusted their price targets for Kopin, with Canaccord Genuity lowering its target from $2.50 to $2.25, while Wall Street Zen upgraded the stock from "sell" to "hold."
• Kopin's stock opened at $2.05, down 6.0%, with a market cap of $333.74 million and a P/E ratio of -18.64.

Royce & Associates LP raised its stake in Kopin Corporation (NASDAQ:KOPN - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,981,832 shares of the company's stock after purchasing an additional 255,450 shares during the quarter. Royce & Associates LP owned about 4.93% of Kopin worth $7,441,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of Kopin by 6.3% during the fourth quarter. Millennium Management LLC now owns 279,459 shares of the company's stock valued at $380,000 after acquiring an additional 16,630 shares in the last quarter. AMG National Trust Bank boosted its stake in Kopin by 16.0% in the first quarter. AMG National Trust Bank now owns 145,000 shares of the company's stock valued at $135,000 after acquiring an additional 20,000 shares during the period. One68 Global Capital LLC bought a new stake in shares of Kopin during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its holdings in shares of Kopin by 271.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,530 shares of the company's stock valued at $42,000 after buying an additional 22,316 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Kopin during the fourth quarter valued at approximately $37,000. 30.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on KOPN shares. Canaccord Genuity Group dropped their target price on Kopin from $2.50 to $2.25 and set a "buy" rating on the stock in a report on Monday, April 21st. Wall Street Zen upgraded shares of Kopin from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st.

Kopin Stock Down 6.0%

Kopin stock opened at $2.05 on Friday. The company's fifty day simple moving average is $1.62 and its 200-day simple moving average is $1.43. Kopin Corporation has a 12 month low of $0.56 and a 12 month high of $2.50. The stock has a market cap of $333.74 million, a P/E ratio of -18.64 and a beta of 2.85.

Kopin (NASDAQ:KOPN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $14.65 million during the quarter, compared to the consensus estimate of $12.41 million. Kopin had a negative return on equity of 87.81% and a negative net margin of 28.70%. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, equities research analysts expect that Kopin Corporation will post -0.14 earnings per share for the current fiscal year.

About Kopin

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.

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