POET Technologies (NASDAQ:POET) Stock Price Down 4.3% - Here's What Happened

Key Points

• POET Technologies (NASDAQ:POET) shares fell about 4.3% to roughly $6.99 intraday, with 7.4 million shares trading — down about 21% from the average session volume and below the prior close of $7.30.
• Analyst sentiment is negative: the stock carries an average rating of Sell with a consensus price target of $8.00, and recent downgrades include Wall Street Zen and Weiss Ratings.
• Fundamentals showed weakness as POET missed quarterly expectations (EPS -$0.09 vs. -$0.06 estimate; revenue $0.34M vs. $0.40M estimate), with large negative margins and analysts forecasting roughly -$0.45 EPS for the year.

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) fell 4.3% during mid-day trading on Tuesday . The stock traded as low as $6.96 and last traded at $6.9880. 7,396,741 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 9,319,452 shares. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on POET. Wall Street Zen cut shares of POET Technologies from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Weiss Ratings restated a "sell (d-)" rating on shares of POET Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell" and a consensus price target of $8.00.

POET Technologies Price Performance

The firm has a market capitalization of $887.97 million, a P/E ratio of -11.93 and a beta of 0.36. The company's 50-day simple moving average is $6.14 and its two-hundred day simple moving average is $6.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in POET. Jump Financial LLC bought a new position in POET Technologies in the second quarter worth approximately $619,000. Raymond James Financial Inc. raised its position in POET Technologies by 253.1% in the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company's stock worth $1,230,000 after acquiring an additional 169,158 shares during the period. Marex Group plc bought a new position in POET Technologies in the second quarter worth approximately $198,000. Osaic Holdings Inc. raised its position in POET Technologies by 22.3% in the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company's stock worth $181,000 after acquiring an additional 6,340 shares during the period. Finally, HBW Advisory Services LLC bought a new position in POET Technologies in the third quarter worth approximately $57,000. 1.99% of the stock is currently owned by institutional investors.

POET Technologies Company Profile

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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