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

Kopin Corporation (NASDAQ:KOPN - Get Free Report) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 4,010,000 shares, an increase of 23.4% from the May 15th total of 3,250,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,520,000 shares, the days-to-cover ratio is presently 1.6 days.

Kopin Trading Up 0.6%

Shares of NASDAQ:KOPN traded up $0.01 during mid-day trading on Wednesday, reaching $1.63. The company had a trading volume of 1,749,887 shares, compared to its average volume of 2,479,585. The firm has a market cap of $265.36 million, a price-to-earnings ratio of -14.82 and a beta of 2.85. The company's 50-day moving average price is $1.32 and its 200-day moving average price is $1.34. Kopin has a one year low of $0.56 and a one year high of $2.17.

Kopin (NASDAQ:KOPN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The company had revenue of $14.65 million for the quarter, compared to analysts' expectations of $11.15 million. Kopin had a negative net margin of 28.70% and a negative return on equity of 87.81%. During the same quarter in the previous year, the firm posted ($0.04) EPS. On average, research analysts anticipate that Kopin will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KOPN shares. Wall Street Zen cut shares of Kopin from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group dropped their target price on shares of Kopin from $2.50 to $2.25 and set a "buy" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, Kopin presently has a consensus rating of "Moderate Buy" and an average price target of $2.56.

Institutional Investors Weigh In On Kopin

Hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. bought a new stake in shares of Kopin in the 4th quarter worth approximately $91,000. Charles Schwab Investment Management Inc. bought a new stake in Kopin during the 4th quarter valued at $171,000. Bank of America Corp DE raised its holdings in Kopin by 11,517.4% during the 4th quarter. Bank of America Corp DE now owns 179,489 shares of the company's stock valued at $244,000 after acquiring an additional 177,944 shares during the period. Jane Street Group LLC bought a new stake in Kopin during the 4th quarter valued at $300,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Kopin during the 4th quarter valued at $233,000. Institutional investors own 30.96% of the company's stock.

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.

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