Bank of Montreal Can Cuts Position in POET Technologies Inc. (NASDAQ:POET)

Bank of Montreal Can reduced its position in POET Technologies Inc. (NASDAQ:POET - Free Report) by 93.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,606 shares of the company's stock after selling 150,860 shares during the period. Bank of Montreal Can's holdings in POET Technologies were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Defender Capital LLC. purchased a new position in shares of POET Technologies in the fourth quarter worth $61,000. Tyler Stone Wealth Management lifted its stake in POET Technologies by 4.0% during the 4th quarter. Tyler Stone Wealth Management now owns 281,800 shares of the company's stock valued at $1,677,000 after acquiring an additional 10,800 shares during the period. Polymer Capital Management US LLC purchased a new stake in shares of POET Technologies during the 4th quarter valued at about $77,000. HB Wealth Management LLC bought a new stake in shares of POET Technologies in the fourth quarter worth approximately $89,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of POET Technologies during the fourth quarter valued at approximately $94,000. 1.99% of the stock is owned by institutional investors.

POET Technologies Trading Up 3.2 %

NASDAQ:POET traded up $0.13 during trading hours on Thursday, reaching $4.21. The company had a trading volume of 114,929 shares, compared to its average volume of 1,548,404. The firm has a market cap of $328.70 million, a price-to-earnings ratio of -7.06 and a beta of 0.48. The firm's 50 day moving average price is $3.83 and its 200-day moving average price is $4.43. POET Technologies Inc. has a 52 week low of $1.60 and a 52 week high of $7.79.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its earnings results on Monday, March 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. On average, analysts forecast that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.

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.