Cubist Systematic Strategies LLC Trims Stock Position in Kopin Co. (NASDAQ:KOPN)

Cubist Systematic Strategies LLC cut its holdings in Kopin Co. (NASDAQ:KOPN) by 75.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,173 shares of the company’s stock after selling 120,584 shares during the period. Cubist Systematic Strategies LLC’s holdings in Kopin were worth $33,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KOPN shares. StockNews.com cut Kopin from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lowered their price objective 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. Finally, Lake Street Capital began coverage on shares of Kopin in a research note on Tuesday, June 18th. They set a “buy” rating and a $2.50 target price on the stock.

Kopin Stock Performance

KOPN stock opened at $0.74 on Wednesday. The company’s 50 day moving average price is $0.86 and its 200 day moving average price is $0.96. The firm has a market capitalization of $88.15 million, a price-to-earnings ratio of -1.77 and a beta of 2.60. Kopin Co. has a fifty-two week low of $0.56 and a fifty-two week high of $2.82.

Kopin (NASDAQ:KOPN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $12.34 million during the quarter, compared to analysts’ expectations of $9.32 million. Kopin had a negative net margin of 114.11% and a negative return on equity of 131.82%. During the same period in the prior year, the company posted ($0.07) earnings per share. Equities analysts forecast that Kopin Co. will post -0.17 EPS for the current fiscal year.

Kopin Company 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.