POET Technologies (NASDAQ:POET) Shares Up 7.4% - What's Next?

Key Points

• Shares up 7.4% intraday to $6.53 on Friday on light volume (1.2M shares, down 87% vs. average), leaving the stock near its 50- and 200-day moving averages and a market cap of about $893M; however, POET reported a quarterly EPS miss (−$0.09 vs. −$0.06 est.) and shows a negative P/E, extremely negative net margin (−5,857%) and negative ROE.
• The stock carries an average analyst rating of "Sell" with a consensus target of $8.00 after recent downgrades, and while several institutions have modestly increased or initiated positions, institutional ownership remains low at roughly 1.99%.

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) shot up 7.4% during mid-day trading on Friday . The stock traded as high as $6.41 and last traded at $6.5290. 1,197,363 shares changed hands during trading, a decline of 87% from the average session volume of 8,949,252 shares. The stock had previously closed at $6.08.

Analyst Ratings Changes

POET has been the subject of a number of recent research reports. Wall Street Zen lowered POET Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, POET Technologies currently has an average rating of "Sell" and a consensus target price of $8.00.

POET Technologies Stock Performance

The business has a 50 day moving average price of $6.09 and a two-hundred day moving average price of $6.36. The company has a market cap of $893.13 million, a P/E ratio of -12.08 and a beta of 0.36.

POET Technologies (NASDAQ:POET - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). POET Technologies had a negative net margin of 5,857.02% and a negative return on equity of 38.88%. The company had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.40 million. As a group, research analysts expect that POET Technologies Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec grew its holdings in shares of POET Technologies by 33.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company's stock worth $3,910,000 after acquiring an additional 155,428 shares during the period. Private Advisor Group LLC purchased a new position in shares of POET Technologies during the 4th quarter worth approximately $2,707,000. Raymond James Financial Inc. grew its holdings in shares of POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company's stock worth $2,290,000 after acquiring an additional 177,341 shares during the period. Royal Bank of Canada grew its holdings in shares of POET Technologies by 55.1% during the 4th quarter. Royal Bank of Canada now owns 124,468 shares of the company's stock worth $788,000 after acquiring an additional 44,205 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of POET Technologies in the 2nd quarter worth approximately $619,000. Hedge funds and other institutional investors own 1.99% of the company's stock.

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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