POET Technologies (NASDAQ:POET) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "Sell (D-)" rating for POET Technologies, indicating a negative outlook on the stock.
• POET Technologies' stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $6.25.
• The company recently reported disappointing quarterly earnings, with an EPS of ($0.21), missing expectations by $0.10.

POET Technologies (NASDAQ:POET - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of POET Technologies from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

POET Technologies Trading Up 12.6%

NASDAQ:POET opened at $8.23 on Friday. The stock has a market capitalization of $746.63 million, a PE ratio of -10.16 and a beta of 0.37. The firm's 50 day moving average is $6.17 and its 200 day moving average is $5.31. POET Technologies has a 12 month low of $3.09 and a 12 month high of $9.41.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly 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). The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.39 million. POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%. Research analysts predict that POET Technologies will post -0.45 earnings per share for the current year.

Institutional Trading of POET Technologies

Several hedge funds have recently added to or reduced their stakes in POET. MMCAP International Inc. SPC lifted its stake in POET Technologies by 2,198.7% in the second quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company's stock worth $30,710,000 after purchasing an additional 5,637,964 shares during the last quarter. Raymond James Financial Inc. lifted its stake in POET Technologies by 253.1% in the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company's stock worth $1,230,000 after purchasing an additional 169,158 shares during the last quarter. Quadrature Capital Ltd bought a new stake in POET Technologies in the second quarter worth $855,000. Jump Financial LLC bought a new stake in POET Technologies in the second quarter worth $619,000. Finally, Tyler Stone Wealth Management lifted its stake in POET Technologies by 24.1% in the first quarter. Tyler Stone Wealth Management now owns 349,800 shares of the company's stock worth $1,322,000 after purchasing an additional 68,000 shares during the last quarter. 1.99% of the stock is owned by 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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