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

Kopin Corporation (NASDAQ:KOPN - Get Free Report) saw a significant increase in short interest in the month of 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. Approximately 2.7% of the company's shares are sold short. Based on an average daily volume of 2,520,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Kopin

Large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. acquired a new stake in Kopin during the 4th quarter valued at $91,000. Charles Schwab Investment Management Inc. acquired a new stake in Kopin during the 4th quarter valued at $171,000. Bank of America Corp DE grew 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 purchasing an additional 177,944 shares in the last quarter. Jane Street Group LLC acquired a new stake in Kopin during the 4th quarter valued at $300,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Kopin during the 4th quarter valued at $233,000. 30.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KOPN shares. Canaccord Genuity Group cut their price target on shares of Kopin from $2.50 to $2.25 and set a "buy" rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised shares of Kopin from a "sell" rating to a "hold" rating in a research note on Saturday.

Kopin Price Performance

Shares of KOPN stock remained flat at $1.63 during mid-day trading on Friday. 1,758,385 shares of the stock were exchanged, compared to its average volume of 2,484,544. The firm's 50-day moving average is $1.33 and its 200 day moving average is $1.35. Kopin has a fifty-two week low of $0.56 and a fifty-two week high of $2.17. The stock has a market cap of $265.36 million, a price-to-earnings ratio of -14.82 and a beta of 2.85.

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