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Kopin Stock Rises After Founder Picks Up 50,000 Shares

Founder John Fan purchases 50,000 shares of Kopin.

Shares of Kopin  (KOPN) - Get Kopin Corporation Report rose more than 10% Thursday after Chairman, President and CEO John Fan bought $272,500 worth of shares, according to a filing with the  Securities & Exchange Commission.

Shares of the Westborough, Massachusetts. company rose 10.15% to $5.97 on Thursday.

Fan, the company's founder, purchased 50,000 shares at an average price of $5.45 on
Aug. 24, according to the filing. The transaction increased the directly owned shares by 0.9% to 5.55 million shares.

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Shares of the electronics manufacturer have dropped 22% in the past month.

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For the quarter ended June 26, Kopin's net loss narrowed to $3.8 million, or 4 cents a share, from $7.9 million, or 9 cents a share, in the year ago period.

Total revenue for the fiscal second quarter rose 12% to $9.9 million from $8.8 million in the same period a year ago.

Kopin, a developer and manufacturer of semiconductor materials, has a market cap of $495.8 million.

Kopin produces high-resolution microdisplays and subsystems for defense, enterprise and consumer augmented reality, virtual reality and mixed reality systems.

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