Anson Funds Management LP Makes New $4 Million Investment in POET Technologies Inc. (NASDAQ:POET)

Anson Funds Management LP acquired a new position in POET Technologies Inc. (NASDAQ:POET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 672,394 shares of the company's stock, valued at approximately $3,999,000. POET Technologies accounts for approximately 0.4% of Anson Funds Management LP's portfolio, making the stock its 29th largest holding. Anson Funds Management LP owned about 0.88% of POET Technologies at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jump Financial LLC purchased a new stake in POET Technologies in the 4th quarter worth $1,834,000. HighTower Advisors LLC purchased a new stake in shares of POET Technologies during the fourth quarter worth about $116,000. HB Wealth Management LLC bought a new stake in POET Technologies during the 4th quarter valued at approximately $89,000. Raymond James Financial Inc. bought a new position in POET Technologies in the 4th quarter worth approximately $252,000. Finally, Renaissance Technologies LLC boosted its stake in POET Technologies by 952.0% in the 4th quarter. Renaissance Technologies LLC now owns 311,816 shares of the company's stock worth $1,855,000 after purchasing an additional 282,176 shares during the period. Hedge funds and other institutional investors own 1.99% of the company's stock.

POET Technologies Price Performance

Shares of POET stock traded up $0.07 during mid-day trading on Thursday, hitting $4.41. The company had a trading volume of 275,186 shares, compared to its average volume of 1,531,655. The stock's 50 day moving average price is $3.86 and its 200-day moving average price is $4.44. POET Technologies Inc. has a 52-week low of $1.60 and a 52-week high of $7.79. The company has a market capitalization of $344.32 million, a P/E ratio of -7.47 and a beta of 0.19.

POET Technologies (NASDAQ:POET - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. On average, equities research analysts expect that POET Technologies Inc. will post -0.45 earnings per share for the current year.

POET Technologies Company Profile

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.