POET Technologies (NASDAQ:POET) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• POET Technologies reported ($0.09) EPS, missing the consensus ($0.06) by $0.03 and posting revenue of $0.34M versus $0.40M expected, with extremely weak profitability (negative ROE 103.46% and net margin -6,625.16%).
• Shares fell to $5.85 (down $0.09), trade well inside a 52‑week range of $3.09–$9.41, and the company has a market cap of about $772.9M and a negative P/E, indicating valuation and performance pressure.
• Institutional ownership is low (~1.99%) though several funds recently added positions, and analysts carry a consensus "Sell" rating with an average price target of $8.00.

POET Technologies (NASDAQ:POET - Get Free Report) released its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Zacks reports. The company had revenue of $0.34 million during the quarter, compared to analysts' expectations of $0.40 million. POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%.

POET Technologies Price Performance

Shares of POET stock traded down $0.09 on Wednesday, hitting $5.85. 4,096,119 shares of the stock traded hands, compared to its average volume of 9,064,280. POET Technologies has a 52 week low of $3.09 and a 52 week high of $9.41. The firm has a 50 day simple moving average of $6.20 and a two-hundred day simple moving average of $6.33. The firm has a market cap of $772.85 million, a price-to-earnings ratio of -8.11 and a beta of 0.36.

Institutional Trading of POET Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new position in shares of POET Technologies during the 4th quarter valued at about $2,707,000. Raymond James Financial Inc. increased its holdings in shares of POET Technologies by 75.1% in the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company's stock worth $2,290,000 after purchasing an additional 177,341 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of POET Technologies by 33.6% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company's stock worth $3,910,000 after buying an additional 155,428 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of POET Technologies in the second quarter worth about $619,000. Finally, Sona Asset Management US LLC bought a new position in POET Technologies during the fourth quarter valued at approximately $633,000. 1.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on POET shares. Northland Securities set a $8.00 price objective on shares of POET Technologies in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of POET Technologies in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell" and an average price target of $8.00.

About POET Technologies

POET Technologies Inc is a Canadian fabless semiconductor company focused on the development and commercialization of integrated silicon photonics platforms. Leveraging proprietary POET Optical Interposer™ technology, the company designs and manufactures optical input/output (I/O) solutions that enable high-bandwidth, low-power data transmission between electronic chips and fiber-optic networks. By integrating optical waveguides, lasers, detectors and electronic drivers onto a single chip, POET aims to address the growing demand for faster, more energy-efficient data connectivity in telecommunications, data centers and high-performance computing applications.

The company’s core products include silicon photonics interposer arrays, active optical cables and optical transceiver modules.

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