POET Technologies (NASDAQ:POET) Lowered to Sell Rating by Wall Street Zen

Key Points

• POET Technologies has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, reflecting a negative outlook from analysts.
• The stock has experienced a decrease of 5.1% and has traded between a one-year low of $2.63 and a high of $7.79.
• Recent earnings results showed a loss of ($0.21) EPS, missing estimates and indicating ongoing financial challenges for the company.

Wall Street Zen lowered shares of POET Technologies (NASDAQ:POET - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

POET Technologies Stock Down 1.1%

Shares of NASDAQ:POET traded down $0.06 during trading on Friday, reaching $5.30. 1,166,856 shares of the company traded hands, compared to its average volume of 1,611,447. The firm has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $4.64. The firm has a market cap of $480.83 million, a P/E ratio of -6.54 and a beta of 0.38. POET Technologies has a 1-year low of $2.63 and a 1-year high of $7.79.

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

Institutional Trading of POET Technologies

A number of institutional investors and hedge funds have recently modified their holdings of POET. Strengthening Families & Communities LLC acquired a new stake in shares of POET Technologies in the first quarter worth $26,000. Sentry LLC acquired a new stake in shares of POET Technologies in the first quarter worth $38,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of POET Technologies in the first quarter worth $47,000. Steward Partners Investment Advisory LLC grew its stake in shares of POET Technologies by 390.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company's stock worth $70,000 after acquiring an additional 10,763 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of POET Technologies in the fourth quarter worth $94,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.