POET Technologies (NASDAQ:POET) Stock Price Up 8.7% - Should You Buy?

Key Points

• Shares of POET Technologies were up 8.7% on Tuesday, last trading around $7.73 after hitting $7.61, with roughly 5.64 million shares changing hands—about 67% below its average daily volume.
• Research firms have been negative: Weiss Ratings reissued a sell, Wall Street Zen downgraded to sell, and the consensus rating is Sell with an average price target of $8.00.
• POET is a Canadian fabless silicon photonics company (POET Optical Interposer) serving data‑center and telecom markets; it has a market cap of about $1.23 billion, a negative P/E (~-16.6), and low institutional ownership (~1.99%).

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) rose 8.7% during trading on Tuesday . The stock traded as high as $7.61 and last traded at $7.7320. Approximately 5,638,001 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 17,128,607 shares. The stock had previously closed at $7.11.

Analyst Ratings Changes

POET has been the topic of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of POET Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell" and an average price target of $8.00.

POET Technologies Stock Up 30.9%

The company has a market cap of $1.23 billion, a PE ratio of -16.57 and a beta of 0.53. The stock's 50 day moving average is $6.99 and its 200-day moving average is $6.55.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in POET Technologies during the third quarter valued at $25,000. Quarry LP bought a new position in POET Technologies during the fourth quarter valued at $29,000. New Millennium Group LLC bought a new position in POET Technologies during the third quarter valued at $27,000. CoreCap Advisors LLC increased its position in POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company's stock valued at $29,000 after acquiring an additional 4,918 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in POET Technologies by 95.3% during the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company's stock valued at $47,000 after acquiring an additional 4,142 shares during the last quarter. 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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