Kopin (KOPN) Trading Down 4.1% on Disappointing Earnings

Kopin Co. (NASDAQ:KOPN) shares fell 4.1% on Friday following a weaker than expected earnings announcement. The company traded as low as $1.92 and last traded at $1.87. 7,570 shares were traded during mid-day trading, a decline of 96% from the average session volume of 184,717 shares. The stock had previously closed at $1.95.

The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $5.13 million for the quarter. Kopin had a negative return on equity of 35.12% and a negative net margin of 86.62%. During the same period in the prior year, the firm posted ($0.11) EPS.

Separately, National Securities began coverage on Kopin in a research report on Tuesday, October 2nd. They set a “buy” rating and a $3.00 target price for the company.

Several hedge funds have recently added to or reduced their stakes in KOPN. JPMorgan Chase & Co. raised its position in shares of Kopin by 457.7% during the first quarter. JPMorgan Chase & Co. now owns 74,092 shares of the company’s stock worth $231,000 after acquiring an additional 60,807 shares during the last quarter. Cowen Prime Services LLC raised its position in shares of Kopin by 12.6% during the third quarter. Cowen Prime Services LLC now owns 293,750 shares of the company’s stock worth $711,000 after acquiring an additional 32,932 shares during the last quarter. Round Table Services LLC raised its position in shares of Kopin by 117.7% during the third quarter. Round Table Services LLC now owns 385,380 shares of the company’s stock worth $933,000 after acquiring an additional 208,380 shares during the last quarter. Northern Trust Corp raised its position in shares of Kopin by 9.2% during the second quarter. Northern Trust Corp now owns 809,625 shares of the company’s stock worth $2,315,000 after acquiring an additional 68,060 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Kopin by 8.8% during the third quarter. BlackRock Inc. now owns 9,665,876 shares of the company’s stock worth $23,391,000 after acquiring an additional 780,079 shares during the last quarter. Institutional investors own 46.99% of the company’s stock.

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Kopin Company Profile (NASDAQ:KOPN)

Kopin Corporation invents, develops, manufactures, and sells technologies, components, and systems in the United States, the Asia-Pacific, and Europe. The company's Kopin Wearable technology includes component technologies, which can be integrated to create headset systems. It provides components, including miniature liquid crystal displays, liquid crystal on silicon displays/ spatial light modulators, organic light emitting diode displays, application specific integrated circuits, backlights, optical lenses, and audio integrated circuits.

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