POET Technologies (NASDAQ:POET) Sees Strong Trading Volume - Time to Buy?

Key Points

• Shares experienced a 60% surge in volume to 15.28 million shares and rose from a $7.26 close to about $8.84 during the session.
• Analysts carry an average "Sell" rating with a $8.00 consensus price target, and the company recently missed quarterly EPS and revenue estimates while showing very negative margins and return on equity.
• POET is a Canadian fabless semiconductor focused on silicon photonics (optical interposers, active cables and transceiver modules) with a market cap around $1.14 billion and low institutional ownership (~1.99%).

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw strong trading volume on Monday . 15,278,711 shares were traded during trading, an increase of 60% from the previous session's volume of 9,530,662 shares.The stock last traded at $8.8380 and had previously closed at $7.26.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of POET Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of POET Technologies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell" and a consensus price target of $8.00.

POET Technologies Price Performance

The stock has a market capitalization of $1.14 billion, a PE ratio of -15.49 and a beta of 0.36. The firm's 50 day simple moving average is $6.25 and its 200 day simple moving average is $6.42.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $0.34 million for the quarter, compared to analysts' expectations of $0.40 million. POET Technologies had a negative return on equity of 38.88% and a negative net margin of 5,857.02%. Analysts expect that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in shares of POET Technologies during the third quarter worth approximately $25,000. Quarry LP purchased a new position in shares of POET Technologies during the fourth quarter worth approximately $29,000. New Millennium Group LLC purchased a new position in shares of POET Technologies during the third quarter worth approximately $27,000. CoreCap Advisors LLC raised its stake in shares of POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company's stock worth $29,000 after acquiring an additional 4,918 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of POET Technologies by 95.3% in the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company's stock worth $47,000 after buying an additional 4,142 shares during the period. 1.99% of the stock is owned by hedge funds and other institutional investors.

POET Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.