POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $6.10, but opened at $6.80. POET Technologies shares last traded at $6.64, with a volume of 4,197,788 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded POET Technologies from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.
Check Out Our Latest Stock Analysis on POET Technologies
POET Technologies Stock Up 2.3%
The firm has a market capitalization of $611.82 million, a price-to-earnings ratio of -9.69 and a beta of 0.28. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $4.53.
POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.17. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.56 million. Analysts predict that POET Technologies Inc. will post -0.45 earnings per share for the current year.
Hedge Funds Weigh In On POET Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC acquired a new position in POET Technologies in the first quarter valued at approximately $26,000. Sentry LLC acquired a new position in POET Technologies in the first quarter valued at approximately $38,000. Baader Bank Aktiengesellschaft acquired a new position in POET Technologies in the first quarter valued at approximately $47,000. Polymer Capital Management US LLC acquired a new position in POET Technologies in the fourth quarter valued at approximately $77,000. Finally, JPMorgan Chase & Co. acquired a new position in POET Technologies in the fourth quarter valued at approximately $94,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.
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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