POET Technologies (NASDAQ:POET) Stock Rating Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded POET Technologies from “hold” to “sell.” Weiss Ratings also maintained a “sell (D-)” rating, while the stock’s average analyst rating is “Sell” with an $8.00 target price.
• POET shares opened at $7.77, with a $1.19 billion market capitalization, a 52-week range of $3.87 to $20.81, and trading below both its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.07 per share, in line with estimates, and revenue of $0.57 million. Analysts expect POET to post a full-year loss of approximately $0.28 per share.

POET Technologies (NASDAQ:POET - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell" and an average target price of $8.00.

POET Technologies Trading Up 0.3%

NASDAQ:POET opened at $7.77 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -13.40 and a beta of 0.83. POET Technologies has a 1-year low of $3.87 and a 1-year high of $20.81. The business's fifty day moving average price is $7.90 and its 200 day moving average price is $9.13.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.The firm had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.50 million. During the same period in the prior year, the business earned ($0.21) EPS. Equities analysts forecast that POET Technologies will post -0.28 earnings per share for the current year.

Institutional Trading of POET Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in POET Technologies in the first quarter valued at about $59,000. Shelton Wealth Management LLC purchased a new stake in shares of POET Technologies during the 1st quarter worth about $59,000. Archford Capital Strategies LLC acquired a new stake in shares of POET Technologies during the 2nd quarter valued at about $103,000. Capital Financial Group Inc. Co. ADV acquired a new stake in shares of POET Technologies during the 4th quarter valued at about $73,000. Finally, IFP Advisors Inc acquired a new stake in shares of POET Technologies during the 4th quarter valued at about $83,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

POET Technologies Company Profile

POET Technologies, Inc is a technology company that develops photonic integrated circuits, optical engines and related semiconductor components for high-speed communications. Its products are designed to convert and transmit data using light, supporting applications in data centers, telecommunications networks, artificial intelligence infrastructure and high-performance computing.

The company's technology is based on its Optical Interposer platform, which integrates electronic and photonic components into compact, scalable modules.

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