POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $8.82, but opened at $8.52. POET Technologies shares last traded at $8.23, with a volume of 6,804,886 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Wall Street Zen upgraded POET Technologies from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of POET Technologies in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, POET Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.
View Our Latest Stock Report on POET Technologies
POET Technologies Price Performance
The stock has a 50-day simple moving average of $5.63 and a 200-day simple moving average of $4.99. The stock has a market cap of $693.10 million, a PE ratio of -9.56 and a beta of 0.37.
POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly earnings results 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). POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. The firm had revenue of $0.27 million for the quarter, compared to analysts' expectations of $0.39 million. As a group, equities research analysts anticipate that POET Technologies Inc. will post -0.45 EPS for the current year.
Institutional Investors Weigh In On POET Technologies
Institutional investors and hedge funds have recently modified their holdings of the stock. Strengthening Families & Communities LLC purchased a new stake in shares of POET Technologies in the first quarter worth about $26,000. Sentry LLC acquired a new position in shares of POET Technologies in the first quarter worth about $38,000. Baader Bank Aktiengesellschaft acquired a new position in shares of POET Technologies in the first quarter worth about $47,000. Steward Partners Investment Advisory LLC lifted its stake in shares of POET Technologies by 390.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company's stock worth $70,000 after acquiring an additional 10,763 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 1.99% of the company's stock.
POET Technologies Company Profile
(
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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