Archon Capital Management LLC Sells 703,578 Shares of Kopin Corporation $KOPN

Archon Capital Management LLC decreased its holdings in Kopin Corporation (NASDAQ:KOPN) by 35.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,279,797 shares of the company’s stock after selling 703,578 shares during the period. Kopin accounts for approximately 1.6% of Archon Capital Management LLC’s holdings, making the stock its 24th biggest holding. Archon Capital Management LLC’s holdings in Kopin were worth $1,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in shares of Kopin in the 2nd quarter worth approximately $245,000. Silverberg Bernstein Capital Management LLC lifted its position in Kopin by 43.7% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 1,059,709 shares of the company’s stock worth $1,621,000 after buying an additional 322,205 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Kopin in the second quarter worth $128,000. ProShare Advisors LLC purchased a new position in Kopin during the second quarter worth $271,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Kopin during the second quarter valued at $1,834,000. Hedge funds and other institutional investors own 30.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KOPN. Craig Hallum started coverage on shares of Kopin in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $6.00 target price on the stock. Wall Street Zen raised shares of Kopin from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Lake Street Capital raised their price objective on shares of Kopin from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Kopin in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group increased their price target on Kopin from $3.00 to $3.25 and gave the stock a “buy” rating in a report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.69.

Kopin Stock Up 8.0%

Shares of KOPN stock opened at $2.71 on Friday. The company’s 50 day moving average is $2.98 and its 200 day moving average is $2.24. The firm has a market cap of $494.60 million, a price-to-earnings ratio of -67.75 and a beta of 2.72. Kopin Corporation has a 52-week low of $0.71 and a 52-week high of $4.16.

Kopin (NASDAQ:KOPN) last announced its earnings results 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 business had revenue of $11.96 million for the quarter, compared to analysts’ expectations of $13.89 million. Kopin had a negative return on equity of 30.97% and a negative net margin of 13.81%. Analysts anticipate that Kopin Corporation will post -0.14 EPS for the current fiscal year.

Kopin 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.