Balyasny Asset Management L.P. Acquires New Shares in Kopin Co. (NASDAQ:KOPN)

Balyasny Asset Management L.P. acquired a new position in shares of Kopin Co. (NASDAQ:KOPN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 66,592 shares of the company’s stock, valued at approximately $91,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Kopin during the fourth quarter valued at $171,000. Geode Capital Management LLC lifted its position in Kopin by 34.3% in the 4th quarter. Geode Capital Management LLC now owns 1,599,109 shares of the company’s stock valued at $2,175,000 after purchasing an additional 408,396 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Kopin during the 4th quarter valued at about $233,000. Prudential Financial Inc. acquired a new position in Kopin during the 4th quarter valued at about $37,000. Finally, Royce & Associates LP grew its position in Kopin by 15.4% in the 4th quarter. Royce & Associates LP now owns 7,726,382 shares of the company’s stock worth $10,508,000 after purchasing an additional 1,033,088 shares during the last quarter. 30.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price target on Kopin from $2.50 to $2.25 and set a “buy” rating on the stock in a report on Monday, April 21st. StockNews.com downgraded Kopin from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Kopin presently has an average rating of “Moderate Buy” and an average price target of $2.56.

Kopin Trading Down 2.6%

Kopin stock opened at $1.48 on Monday. Kopin Co. has a 52 week low of $0.56 and a 52 week high of $2.17. The stock has a market cap of $240.94 million, a price-to-earnings ratio of -3.61 and a beta of 3.16. The company’s 50-day moving average price is $1.16 and its two-hundred day moving average price is $1.26.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings data on Thursday, April 17th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $14.65 million for the quarter, compared to analyst estimates of $11.15 million. Kopin had a negative net margin of 109.38% and a negative return on equity of 165.86%. During the same quarter last year, the business earned ($0.04) earnings per share. Research analysts expect that Kopin Co. will post -0.14 earnings per share for the current fiscal 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.