Renaissance Technologies LLC Has $711,000 Stake in Kopin Co. (NASDAQ:KOPN)

Renaissance Technologies LLC boosted its stake in shares of Kopin Co. (NASDAQ:KOPN) by 494.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,069 shares of the company’s stock after acquiring an additional 703,740 shares during the quarter. Renaissance Technologies LLC owned 0.71% of Kopin worth $711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AMG National Trust Bank increased its position in shares of Kopin by 10.5% during the 2nd quarter. AMG National Trust Bank now owns 105,000 shares of the company’s stock worth $88,000 after purchasing an additional 10,000 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Kopin during the first quarter worth approximately $26,000. Staley Capital Advisers Inc. bought a new position in shares of Kopin in the first quarter valued at approximately $32,000. Northside Capital Management LLC acquired a new position in shares of Kopin in the 1st quarter worth approximately $36,000. Finally, O Connor Financial Group LLC bought a new stake in Kopin during the 1st quarter worth approximately $36,000. 30.96% of the stock is owned by institutional investors.

Kopin Price Performance

Kopin stock opened at $0.74 on Wednesday. The business’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.96. The stock has a market cap of $88.15 million, a price-to-earnings ratio of -1.77 and a beta of 2.60. Kopin Co. has a 12-month low of $0.56 and a 12-month high of $2.82.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Kopin had a negative return on equity of 131.82% and a negative net margin of 114.11%. The business had revenue of $12.34 million for the quarter, compared to analyst estimates of $9.32 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. As a group, sell-side analysts expect that Kopin Co. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Lake Street Capital began coverage on Kopin in a research note on Tuesday, June 18th. They issued a “buy” rating and a $2.50 price objective on the stock. StockNews.com lowered shares of Kopin from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus dropped their target price on shares of Kopin from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Friday, August 9th.

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.