POET Technologies (NASDAQ:POET) Sees Large Volume Increase - Time to Buy?

Key Points

• POET Technologies experienced a significant increase in trading volume, with 1.69 million shares traded, marking a 7% rise from the previous session.
• Analysts have mixed views, with one downgrade from "hold" to "sell," and consensus target price set at $6.25 despite the stock currently trading at $6.05.
• The company reported a quarterly earnings loss of ($0.21) per share, missing expectations, while also revealing a negative net margin of 11,497.01% and a negative return on equity of 141.43%.

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw strong trading volume on Tuesday . 1,689,056 shares traded hands during mid-day trading, an increase of 7% from the previous session's volume of 1,572,891 shares.The stock last traded at $6.05 and had previously closed at $5.16.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of POET Technologies from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $6.25.

POET Technologies Price Performance

The firm has a market cap of $522.55 million, a P/E ratio of -7.12 and a beta of 0.38. The firm has a fifty day simple moving average of $5.54 and a 200-day simple moving average of $4.76.

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 analysts' consensus estimates of ($0.11) by ($0.10). The business had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.39 million. POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. On average, equities analysts predict that POET Technologies Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its position in POET Technologies by 22.3% in the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company's stock worth $181,000 after acquiring an additional 6,340 shares during the period. Marex Group plc bought a new stake in POET Technologies in the second quarter worth about $198,000. Raymond James Financial Inc. raised its position 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 acquiring an additional 169,158 shares during the period. Jump Financial LLC bought a new stake in POET Technologies in the second quarter worth about $619,000. Finally, Quadrature Capital Ltd bought a new stake in POET Technologies in the second quarter worth about $855,000. 1.99% of the stock is currently 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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