POET Technologies (NASDAQ:POET) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Unusually-strong trading volume: About 9.27 million POET shares traded Monday and the stock rose to $7.624 from a $7.04 close.
• Analyst sentiment and weak results: The consensus rating is "Sell" (avg. price target $8.00) after recent downgrades, and POET missed quarterly EPS estimates (‑$0.09 vs. ‑$0.06) with very negative margins and a FY EPS outlook of about ‑0.45.
• Business profile and ownership: POET is a Canadian fabless semiconductor company focused on silicon photonics optical I/O solutions, with a market cap near $978 million and only ~1.99% institutional ownership.

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 9,273,672 shares were traded during mid-day trading, an increase of 1% from the previous session's volume of 9,150,940 shares.The stock last traded at $7.6240 and had previously closed at $7.04.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Performance

The stock has a market cap of $977.62 million, a P/E ratio of -13.21 and a beta of 0.36. The business has a 50 day simple moving average of $6.11 and a 200-day simple moving average of $6.38.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of POET Technologies during the 3rd quarter worth $25,000. Quarry LP bought a new position in shares of POET Technologies during the 4th quarter worth $29,000. New Millennium Group LLC bought a new position in shares of POET Technologies during the 3rd quarter worth $27,000. CoreCap Advisors LLC grew its stake in shares of POET Technologies by 1,967.2% during the 3rd quarter. CoreCap Advisors LLC now owns 5,168 shares of the company's stock worth $29,000 after acquiring an additional 4,918 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of POET Technologies by 95.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company's stock worth $47,000 after acquiring an additional 4,142 shares during the period. Institutional investors own 1.99% of the company's stock.

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.