Goldman Sachs Group Inc. Lowers Position in Kopin Corporation $KOPN

Goldman Sachs Group Inc. cut its stake in Kopin Corporation (NASDAQ:KOPN) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 675,632 shares of the company’s stock after selling 89,532 shares during the quarter. Goldman Sachs Group Inc. owned 0.42% of Kopin worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KOPN. Telemark Asset Management LLC purchased a new stake in shares of Kopin in the first quarter worth approximately $2,797,000. Two Sigma Investments LP grew its holdings in shares of Kopin by 140.9% in the fourth quarter. Two Sigma Investments LP now owns 562,037 shares of the company’s stock valued at $764,000 after acquiring an additional 328,713 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Kopin by 3.3% in the first quarter. Royce & Associates LP now owns 7,981,832 shares of the company’s stock valued at $7,441,000 after acquiring an additional 255,450 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Kopin in the fourth quarter valued at approximately $300,000. Finally, Cerity Partners LLC bought a new position in shares of Kopin in the first quarter valued at approximately $201,000. 30.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KOPN. Canaccord Genuity Group upped their target price on Kopin from $2.50 to $3.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Wall Street Zen lowered Kopin from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Lake Street Capital upped their target price on Kopin from $2.50 to $3.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kopin currently has an average rating of “Buy” and an average price target of $3.00.

Kopin Trading Down 3.4%

Shares of NASDAQ KOPN opened at $2.52 on Thursday. The stock has a fifty day simple moving average of $2.10 and a two-hundred day simple moving average of $1.60. Kopin Corporation has a 1-year low of $0.59 and a 1-year high of $2.82. The firm has a market cap of $410.28 million, a price-to-earnings ratio of -28.00 and a beta of 2.96.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Kopin had a negative net margin of 29.47% and a negative return on equity of 66.91%. The firm had revenue of $8.46 million for the quarter, compared to the consensus estimate of $10.57 million. Analysts forecast that Kopin Corporation will post -0.14 EPS for the current 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.