POET Technologies Inc. $POET Shares Acquired by Tyler Stone Wealth Management

Key Points

• Tyler Stone Wealth Management increased its stake in POET Technologies Inc. by 24.1%, owning 349,800 shares after acquiring an additional 68,000 shares.
• POET Technologies reported a loss of ($0.21) EPS for the last quarter, falling short of analyst estimates, and had a revenue of $0.27 million compared to expectations of $0.39 million.
• Wall Street Zen upgraded POET Technologies' rating from "strong sell" to "hold" in a recent report.

Tyler Stone Wealth Management boosted its stake in POET Technologies Inc. (NASDAQ:POET - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 349,800 shares of the company's stock after buying an additional 68,000 shares during the quarter. Tyler Stone Wealth Management owned approximately 0.45% of POET Technologies worth $1,322,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Strengthening Families & Communities LLC purchased a new position in POET Technologies during the first quarter worth $26,000. Virtu Financial LLC increased its position in POET Technologies by 120.5% during the first quarter. Virtu Financial LLC now owns 47,351 shares of the company's stock worth $179,000 after buying an additional 25,879 shares in the last quarter. US Bancorp DE increased its position in POET Technologies by 12,881.1% during the first quarter. US Bancorp DE now owns 28,169 shares of the company's stock worth $106,000 after buying an additional 27,952 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in POET Technologies during the first quarter worth $47,000. Finally, Waddell & Associates LLC increased its position in POET Technologies by 55.2% during the first quarter. Waddell & Associates LLC now owns 41,346 shares of the company's stock worth $156,000 after buying an additional 14,707 shares in the last quarter. Hedge funds and other institutional investors own 1.99% of the company's stock.

POET Technologies Stock Up 1.5%

Shares of NASDAQ POET traded up $0.0750 during trading on Thursday, hitting $5.0150. 436,621 shares of the company traded hands, compared to its average volume of 1,619,441. POET Technologies Inc. has a 1 year low of $2.63 and a 1 year high of $7.79. The company has a 50-day moving average price of $5.48 and a 200-day moving average price of $4.62. The firm has a market capitalization of $454.96 million, a P/E ratio of -6.18 and a beta of 0.32.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.10). The company had revenue of $0.27 million for the quarter, compared to analysts' expectations of $0.39 million. POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. Research analysts predict that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised POET Technologies from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $6.25.

POET Technologies 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.