Millennium Management LLC Grows Stock Position in Kopin Co. (NASDAQ:KOPN)

Millennium Management LLC lifted its stake in Kopin Co. (NASDAQ:KOPN) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 279,459 shares of the company’s stock after purchasing an additional 16,630 shares during the period. Millennium Management LLC owned about 0.18% of Kopin worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in Kopin by 15.4% during the 4th quarter. Royce & Associates LP now owns 7,726,382 shares of the company’s stock worth $10,508,000 after buying an additional 1,033,088 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kopin by 34.3% during the 4th quarter. Geode Capital Management LLC now owns 1,599,109 shares of the company’s stock worth $2,175,000 after buying an additional 408,396 shares during the last quarter. 683 Capital Management LLC purchased a new stake in Kopin during the 4th quarter worth about $409,000. Marshall Wace LLP purchased a new stake in Kopin during the 4th quarter worth about $307,000. Finally, Jane Street Group LLC purchased a new stake in Kopin during the 4th quarter worth about $300,000. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Kopin Stock Performance

Kopin stock opened at $1.67 on Tuesday. Kopin Co. has a fifty-two week low of $0.56 and a fifty-two week high of $2.17. The company has a market capitalization of $271.87 million, a P/E ratio of -4.07 and a beta of 2.85. The stock has a 50-day simple moving average of $1.21 and a 200-day simple moving average of $1.32.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen downgraded Kopin from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. 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, April 21st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kopin presently has an average rating of “Moderate Buy” and a consensus target price of $2.56.

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.