Tyler Stone Wealth Management Boosts Stock Position in POET Technologies Inc. (NASDAQ:POET)

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 grew its stake in shares of POET Technologies Inc. (NASDAQ:POET - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,800 shares of the company's stock after acquiring an additional 68,000 shares during the period. Tyler Stone Wealth Management owned 0.45% of POET Technologies worth $1,322,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of POET Technologies during the fourth quarter worth $252,000. Paragon Capital Management Ltd raised its position in shares of POET Technologies by 438.4% in the first quarter. Paragon Capital Management Ltd now owns 579,300 shares of the company's stock worth $2,190,000 after buying an additional 471,700 shares in the last quarter. Bank of America Corp DE raised its position in shares of POET Technologies by 4,125.1% in the fourth quarter. Bank of America Corp DE now owns 46,899 shares of the company's stock worth $279,000 after buying an additional 45,789 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of POET Technologies in the fourth quarter worth $1,834,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of POET Technologies in the fourth quarter worth $94,000. Hedge funds and other institutional investors own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

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

POET Technologies Stock Down 1.0%

POET opened at $5.04 on Friday. The stock has a market cap of $457.23 million, a PE ratio of -6.22 and a beta of 0.32. POET Technologies Inc. has a 52 week low of $2.63 and a 52 week high of $7.79. The business's fifty day simple moving average is $5.43 and its 200 day simple moving average is $4.61.

POET Technologies (NASDAQ:POET - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10). The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.39 million. POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. As a group, equities analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.