Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) fell 4.6% during trading on Tuesday . The company traded as low as $7.00 and last traded at $7.10. 1,228,264 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,661,502 shares. The stock had previously closed at $7.44.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded POET Technologies from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.
Check Out Our Latest Stock Report on POET
POET Technologies Stock Performance
The company has a market capitalization of $549.51 million, a price-to-earnings ratio of -8.70 and a beta of 0.28. The company has a 50-day moving average price of $4.85 and a 200-day moving average price of $4.56.
POET Technologies (NASDAQ:POET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.17. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.56 million. As a group, sell-side analysts anticipate that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.
Institutional Investors Weigh In On POET Technologies
Several institutional investors have recently bought and sold shares of the company. Tyler Stone Wealth Management lifted its stake in POET Technologies by 24.1% in the 1st quarter. Tyler Stone Wealth Management now owns 349,800 shares of the company's stock valued at $1,322,000 after acquiring an additional 68,000 shares in the last quarter. Strengthening Families & Communities LLC bought a new stake in POET Technologies in the 1st quarter valued at approximately $26,000. Virtu Financial LLC lifted its stake in POET Technologies by 120.5% in 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 in the last quarter. US Bancorp DE lifted its stake in POET Technologies by 12,881.1% in the 1st quarter. US Bancorp DE now owns 28,169 shares of the company's stock valued at $106,000 after acquiring an additional 27,952 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in POET Technologies in the 1st quarter valued at approximately $47,000. Institutional investors own 1.99% of the company's stock.
About POET Technologies
(
Get Free Report)
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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