POET Technologies (NASDAQ:POET) Trading 7.4% Higher – Should You Buy?
by Jessica Moore · The Cerbat GemPOET Technologies Inc. (NASDAQ:POET – Get Free Report) shares rose 7.4% during mid-day trading on Wednesday . The stock traded as high as $7.55 and last traded at $7.6650. Approximately 3,457,944 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 6,268,209 shares. The stock had previously closed at $7.14.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Wall Street Zen raised shares of POET Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Northland Securities set a $8.00 target price on shares of POET Technologies in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell” and an average price target of $8.00.
View Our Latest Analysis on POET Technologies
POET Technologies Stock Performance
The firm has a market cap of $1.09 billion, a P/E ratio of -11.53 and a beta of 0.31. The business’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $6.11.
POET Technologies (NASDAQ:POET – Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.55 million. As a group, equities research analysts expect that POET Technologies Inc. will post -0.45 EPS for the current year.
Institutional Investors Weigh In On POET Technologies
Large investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of POET Technologies during the 3rd quarter valued at about $25,000. New Millennium Group LLC purchased a new position in shares of POET Technologies in the third quarter worth approximately $27,000. CoreCap Advisors LLC grew its position in POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after buying an additional 4,918 shares during the period. SBI Securities Co. Ltd. increased its holdings in POET Technologies by 95.3% during the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock valued at $47,000 after buying an additional 4,142 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in POET Technologies during the third quarter valued at approximately $55,000. 1.99% of the stock is currently owned by institutional investors.
About POET Technologies
POET Technologies Inc is a Canadian fabless semiconductor company focused on the development and commercialization of integrated silicon photonics platforms. Leveraging proprietary POET Optical Interposer™ technology, the company designs and manufactures optical input/output (I/O) solutions that enable high-bandwidth, low-power data transmission between electronic chips and fiber-optic networks. By integrating optical waveguides, lasers, detectors and electronic drivers onto a single chip, POET aims to address the growing demand for faster, more energy-efficient data connectivity in telecommunications, data centers and high-performance computing applications.
The company’s core products include silicon photonics interposer arrays, active optical cables and optical transceiver modules.