Kopin (NASDAQ:KOPN) Releases Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Kopin Corporation reported a quarterly earnings per share (EPS) of ($0.03), missing analysts' estimates by $0.02.
• The company's revenue of $8.46 million for the quarter fell short of the consensus estimate of $10.57 million.
• Institutional investors significantly increased their holdings in Kopin, with Geode Capital Management raising its stake by 106.8% in the second quarter.

Kopin (NASDAQ:KOPN - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02), Zacks reports. Kopin had a negative return on equity of 87.81% and a negative net margin of 28.70%. The business had revenue of $8.46 million during the quarter, compared to the consensus estimate of $10.57 million.

Kopin Trading Up 2.4%

NASDAQ KOPN traded up $0.05 during trading on Tuesday, reaching $1.92. The company's stock had a trading volume of 6,980,428 shares, compared to its average volume of 3,809,848. The business has a 50-day moving average price of $1.73 and a 200-day moving average price of $1.47. Kopin has a 1-year low of $0.56 and a 1-year high of $2.50. The stock has a market capitalization of $311.76 million, a PE ratio of -17.41 and a beta of 2.74.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KOPN shares. Canaccord Genuity Group cut their price objective 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. Wall Street Zen upgraded shares of Kopin from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st.

Institutional Trading of Kopin

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Kopin by 106.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock valued at $5,353,000 after buying an additional 1,806,632 shares during the period. Rhumbline Advisers acquired a new stake in shares of Kopin in the 2nd quarter valued at approximately $259,000. JPMorgan Chase & Co. raised its position in shares of Kopin by 113,958.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company's stock valued at $108,000 after acquiring an additional 70,654 shares during the period. Finally, Legal & General Group Plc bought a new stake in Kopin during the 2nd quarter worth approximately $25,000. 30.96% of the stock is currently owned by institutional investors and hedge funds.

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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