POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.36, but opened at $8.35. POET Technologies shares last traded at $8.3190, with a volume of 8,884,152 shares.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of POET Technologies in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell" and an average price target of $8.00.
Check Out Our Latest Analysis on POET
POET Technologies Stock Performance
The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -11.72 and a beta of 0.81. The company has a 50 day moving average price of $10.13 and a 200 day moving average price of $8.69.
POET Technologies (NASDAQ:POET - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $0.50 million during the quarter, compared to analysts' expectations of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. On average, research analysts forecast that POET Technologies Inc. will post -0.24 earnings per share for the current year.
Institutional Trading of POET Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of POET Technologies in the third quarter valued at $25,000. Quarry LP acquired a new position in POET Technologies in the 4th quarter valued at about $29,000. Coldstream Capital Management Inc. purchased a new stake in POET Technologies during the third quarter worth about $55,000. Shelton Wealth Management LLC acquired a new stake in shares of POET Technologies during the first quarter worth about $59,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of POET Technologies in the first quarter valued at approximately $59,000. Hedge funds and other institutional investors own 1.99% of the company's stock.
About POET Technologies
(
Get Free Report)
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.
Further Reading
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