POET Technologies (NASDAQ:POET) Hits New 1-Year High - Should You Buy?

Key Points

• POET Technologies' stock reached a new 52-week high at $9.50 during mid-day trading, with a closing price of $9.07 and a trading volume of around 706,226 shares.
• Analysts have mixed ratings for POET, with one Strong Buy, two Buy ratings, and a consensus rating of Moderate Buy, along with an average price target of $6.25.
• POET reported a loss of ($0.21) EPS for the last quarter, missing expectations, and had a negative net margin of 11,497.01%.

POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.50 and last traded at $9.07, with a volume of 706226 shares. The stock had previously closed at $9.05.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised shares of POET Technologies from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $6.25.

POET Technologies Price Performance

The company has a market cap of $808.80 million, a PE ratio of -11.10 and a beta of 0.37. The company has a fifty day moving average price of $5.80 and a 200 day moving average price of $5.09.

POET Technologies (NASDAQ:POET - Get Free Report) last issued 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). 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. As a group, sell-side analysts predict that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On POET Technologies

Several institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake in POET Technologies by 22.3% during the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company's stock valued at $181,000 after acquiring an additional 6,340 shares in the last quarter. Marex Group plc bought a new stake in shares of POET Technologies in the 2nd quarter worth about $198,000. Raymond James Financial Inc. lifted its holdings in POET Technologies by 253.1% during the 2nd quarter. Raymond James Financial Inc. now owns 235,992 shares of the company's stock valued at $1,230,000 after buying an additional 169,158 shares in the last quarter. Jump Financial LLC bought a new stake in POET Technologies during the 2nd quarter valued at about $619,000. Finally, Quadrature Capital Ltd bought a new stake in shares of POET Technologies in the 2nd quarter valued at about $855,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

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.

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