Formula Growth Ltd. Acquires Shares of 250,000 Kopin Corporation $KOPN

Formula Growth Ltd. acquired a new position in shares of Kopin Corporation (NASDAQ:KOPN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 250,000 shares of the company’s stock, valued at approximately $1,120,000. Formula Growth Ltd. owned about 0.13% of Kopin at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KOPN. Prudential Financial Inc. bought a new position in shares of Kopin during the second quarter valued at about $25,000. Legal & General Group Plc purchased a new position in Kopin during the second quarter worth about $25,000. EWA LLC bought a new stake in Kopin in the 4th quarter worth about $25,000. Cibc World Markets Corp bought a new stake in Kopin in the 4th quarter worth about $28,000. Finally, Principal Financial Group Inc. increased its stake in Kopin by 30.7% in the 1st quarter. Principal Financial Group Inc. now owns 13,815 shares of the company’s stock valued at $31,000 after buying an additional 3,243 shares during the last quarter. Institutional investors own 30.96% of the company’s stock.

Kopin Stock Up 1.9%

KOPN opened at $4.82 on Friday. The firm has a 50-day moving average price of $4.21 and a 200-day moving average price of $3.74. Kopin Corporation has a twelve month low of $1.81 and a twelve month high of $6.61. The company has a market capitalization of $895.89 million, a price-to-earnings ratio of 120.53 and a beta of 3.51.

Analysts Set New Price Targets

KOPN has been the topic of several recent analyst reports. Zacks Research cut shares of Kopin from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised Kopin from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Lake Street Capital increased their price target on Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Craig Hallum reiterated a “buy” rating and set a $10.00 price target on shares of Kopin in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group lifted their price target on Kopin from $6.25 to $6.50 and gave the stock a “buy” rating in a report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.20.

About Kopin

Kopin Corporation (NASDAQ: KOPN) is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.