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

Kopin Corporation (NASDAQ:KOPN) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 15,292,319 shares, an increase of 20.6% from the December 15th total of 12,679,546 shares. Approximately 8.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,565,222 shares, the days-to-cover ratio is currently 4.3 days. Based on an average daily trading volume, of 3,565,222 shares, the days-to-cover ratio is currently 4.3 days. Approximately 8.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Lake Street Capital upped their price objective on Kopin from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wall Street Zen upgraded shares of Kopin from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Stifel Nicolaus started coverage on shares of Kopin in a report on Friday, October 17th. They set a “buy” rating and a $5.50 price target for the company. Craig Hallum started coverage on shares of Kopin in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.69.

Institutional Investors Weigh In On Kopin

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOPN. Prudential Financial Inc. acquired a new position in shares of Kopin in the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new position in Kopin in the second quarter valued at approximately $25,000. Bravias Capital Group LLC acquired a new position in Kopin during the third quarter valued at approximately $32,000. Russell Investments Group Ltd. purchased a new stake in Kopin during the third quarter worth approximately $33,000. Finally, AE Wealth Management LLC grew its stake in Kopin by 68.7% during the third quarter. AE Wealth Management LLC now owns 16,873 shares of the company’s stock worth $41,000 after buying an additional 6,873 shares during the period. 30.96% of the stock is currently owned by institutional investors and hedge funds.

Kopin Stock Performance

Shares of KOPN stock opened at $3.16 on Wednesday. The firm has a market capitalization of $576.73 million, a price-to-earnings ratio of -79.00 and a beta of 2.70. Kopin has a one year low of $0.71 and a one year high of $4.16. The company has a 50 day moving average price of $2.58 and a 200 day moving average price of $2.52.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $11.96 million during the quarter, compared to analysts’ expectations of $13.89 million. Kopin had a negative net margin of 13.81% and a negative return on equity of 30.97%. As a group, equities analysts forecast that Kopin will post -0.14 EPS for the current fiscal year.

About Kopin

Kopin Corporation (NASDAQ: KOPN) is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.