Paragon Capital Management Ltd Raises Stock Holdings in POET Technologies Inc. (NASDAQ:POET)

Paragon Capital Management Ltd lifted its holdings in shares of POET Technologies Inc. (NASDAQ:POET - Free Report) by 438.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,300 shares of the company's stock after purchasing an additional 471,700 shares during the period. POET Technologies accounts for about 0.5% of Paragon Capital Management Ltd's portfolio, making the stock its 24th biggest position. Paragon Capital Management Ltd owned 0.74% of POET Technologies worth $2,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in POET. Polymer Capital Management US LLC acquired a new position in POET Technologies during the 4th quarter worth approximately $77,000. JPMorgan Chase & Co. purchased a new stake in shares of POET Technologies in the fourth quarter worth approximately $94,000. TD Waterhouse Canada Inc. raised its stake in shares of POET Technologies by 384.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 18,113 shares of the company's stock worth $108,000 after purchasing an additional 14,373 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of POET Technologies in the fourth quarter worth approximately $116,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of POET Technologies in the fourth quarter worth approximately $119,000. Institutional investors own 1.99% of the company's stock.

POET Technologies Stock Performance

Shares of POET Technologies stock traded up $0.04 on Friday, hitting $4.17. The company had a trading volume of 663,596 shares, compared to its average volume of 1,570,116. The stock has a market capitalization of $352.73 million, a price-to-earnings ratio of -7.07 and a beta of 0.25. POET Technologies Inc. has a 1 year low of $1.65 and a 1 year high of $7.79. The stock has a 50 day moving average of $4.16 and a 200-day moving average of $4.53.

POET Technologies (NASDAQ:POET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.17. The company had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.56 million. Equities analysts anticipate that POET Technologies Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised POET Technologies from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

About POET Technologies

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.