POET Technologies (NASDAQ:POET) Shares Down 6.3% - What's Next?

Key Points

• Shares fell 6.3% intraday to about $6.93, trading as low as $6.77 on volume of ~4.35M shares (about 32% below the average daily volume), after a prior close of $7.39.
• Wall Street sentiment is negative — POET carries an average "Sell" rating with an $8.00 average price target, though analyst notes vary (Northland $8 target, Weiss reiterates a sell, Wall Street Zen moved to hold).
• Financials show weakness: POET missed quarterly EPS (−$0.11 vs. −$0.09 est), reported only $0.30M in revenue, has a deeply negative net margin and ROE, and analysts project about −$0.45 EPS for the fiscal year.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) shares were down 6.3% during mid-day trading on Monday . The stock traded as low as $6.77 and last traded at $6.9250. Approximately 4,354,084 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 6,415,469 shares. The stock had previously closed at $7.39.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Northland Securities set a $8.00 price target on shares of POET Technologies in a research report on Wednesday, December 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded POET Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, POET Technologies has an average rating of "Sell" and an average target price of $8.00.

POET Technologies Stock Performance

The company has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $6.03. The firm has a market capitalization of $950.06 million, a P/E ratio of -10.01 and a beta of 0.31.

POET Technologies (NASDAQ:POET - Get Free Report) last released its earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. The firm had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.55 million. As a group, research analysts forecast that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POET Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. MMCAP International Inc. SPC boosted its holdings in shares of POET Technologies by 2,198.7% in the second quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company's stock worth $30,710,000 after buying an additional 5,637,964 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in POET Technologies by 390.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company's stock valued at $70,000 after buying an additional 10,763 shares during the last quarter. Scotia Capital Inc. raised its position in POET Technologies by 13.0% in the second quarter. Scotia Capital Inc. now owns 18,295 shares of the company's stock worth $95,000 after acquiring an additional 2,100 shares during the period. Quadrature Capital Ltd purchased a new position in shares of POET Technologies during the 2nd quarter worth $855,000. Finally, Jump Financial LLC purchased a new position in POET Technologies during the second quarter valued at $619,000. 1.99% of the stock is owned by institutional investors.

About POET Technologies

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.

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