Investors Purchase High Volume of POET Technologies Call Options (NASDAQ:POET)

Key Points

• POET Technologies saw a 59% increase in call options trading volume, with 14,469 options purchased, indicating heightened investor interest.
• The stock was recently downgraded from a "hold" to a "sell" rating" by Wall Street Zen, although it still holds an average rating of "Buy" with a price target of $6.25.
• POET Technologies' shares rose 7.7% to $6.51, with a significant trading volume of over 4 million shares, surpassing its average volume.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the recipient of some unusual options trading on Thursday. Traders acquired 14,469 call options on the company. This is an increase of 59% compared to the typical daily volume of 9,115 call options.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut POET Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $6.25.

Institutional Trading of POET Technologies

A number of large investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC bought a new position in shares of POET Technologies during the 1st quarter valued at approximately $26,000. Sentry LLC bought a new position in shares of POET Technologies during the 1st quarter valued at approximately $38,000. Baader Bank Aktiengesellschaft purchased a new position in POET Technologies during the 1st quarter valued at $47,000. Steward Partners Investment Advisory LLC boosted its holdings in POET Technologies by 390.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company's stock valued at $70,000 after acquiring an additional 10,763 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in shares of POET Technologies by 13.0% in the 2nd quarter. Scotia Capital Inc. now owns 18,295 shares of the company's stock worth $95,000 after buying an additional 2,100 shares during the period. Institutional investors own 1.99% of the company's stock.

POET Technologies Stock Up 7.7%

NASDAQ POET traded up $0.46 during trading hours on Thursday, reaching $6.51. The company's stock had a trading volume of 4,038,708 shares, compared to its average volume of 1,650,058. The firm's 50-day moving average price is $5.50 and its 200-day moving average price is $4.78. POET Technologies has a 1 year low of $3.09 and a 1 year high of $7.79. The company has a market capitalization of $590.86 million, a price-to-earnings ratio of -8.09 and a beta of 0.38.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly 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). POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%.The business had revenue of $0.27 million during the quarter, compared to analysts' expectations of $0.39 million. Equities research analysts anticipate that POET Technologies will post -0.45 EPS for the current fiscal year.

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.

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