POET Technologies (NASDAQ:POET) Sees Large Volume Increase - Here's Why

Key Points

• POET Technologies experienced a significant trading volume increase of 89%, with approximately 4.9 million shares changing hands, compared to 2.6 million shares the previous session.
• Wall Street analysts have mixed ratings for POET Technologies, resulting in a consensus rating of "Moderate Buy" and a price target of $6.25.
• The company's quarterly earnings report showed a loss of ($0.21) EPS, missing estimates, with analysts forecasting -0.45 EPS for the current fiscal year.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw unusually-high trading volume on Monday . Approximately 4,902,263 shares changed hands during mid-day trading, an increase of 89% from the previous session's volume of 2,590,672 shares.The stock last traded at $7.55 and had previously closed at $7.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded POET Technologies from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of POET Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.25.

POET Technologies Stock Performance

The company has a market capitalization of $756.15 million, a price-to-earnings ratio of -10.28 and a beta of 0.37. The business has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $5.03.

POET Technologies (NASDAQ:POET - Get Free Report) last issued 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). The firm had revenue of $0.27 million for the quarter, compared to analyst estimates 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 Inc. will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tyler Stone Wealth Management lifted its stake in shares of POET Technologies by 24.1% during 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 in the last quarter. US Bancorp DE grew its holdings in POET Technologies by 12,881.1% in the 1st quarter. US Bancorp DE now owns 28,169 shares of the company's stock worth $106,000 after buying an additional 27,952 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in POET Technologies in the first quarter worth approximately $47,000. Strengthening Families & Communities LLC acquired a new stake in shares of POET Technologies during the 1st quarter valued at $26,000. Finally, Virtu Financial LLC lifted its position in shares of POET Technologies by 120.5% during the 1st quarter. Virtu Financial LLC now owns 47,351 shares of the company's stock valued at $179,000 after acquiring an additional 25,879 shares during the last quarter. Institutional investors and hedge funds own 1.99% of the company's stock.

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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