POET Technologies (NASDAQ:POET) Issues Earnings Results

Key Points

• POET reported quarterly EPS of ($0.11), missing the consensus of ($0.09) by $0.02, and showed very weak profitability with a negative return on equity of 141.43% and an extreme negative net margin of 11,497.01%.
• Shares fell $0.35 to $4.70 on heavy trading (9.03M shares vs. a 3.82M average), with a market cap of about $426.4M and a 12‑month range of $3.09–$9.41.
• Institutional buying increased recently (notably Osaic, Jump Financial and Raymond James), but analyst views are mixed—consensus is a “Moderate Buy” with an average price target of $6.25 while some firms have issued sell ratings.

POET Technologies (NASDAQ:POET - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02), Zacks reports. POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%.

POET Technologies Stock Performance

POET traded down $0.35 during trading on Thursday, reaching $4.70. 9,031,093 shares of the company traded hands, compared to its average volume of 3,822,249. POET Technologies has a 12-month low of $3.09 and a 12-month high of $9.41. The firm has a fifty day simple moving average of $6.37 and a 200 day simple moving average of $5.52. The company has a market cap of $426.40 million, a P/E ratio of -5.80 and a beta of 0.37.

Hedge Funds Weigh In On POET Technologies

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

Analyst Ratings Changes

Several research firms recently issued reports on POET. Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a report on Wednesday, October 8th. Wall Street Zen lowered shares of POET Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, POET Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $6.25.

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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