POET Technologies (NASDAQ:POET) Stock Price Up 9.3% - Should You Buy?

Key Points

• POET Technologies shares jumped 9.3% intraday to about $6.70 on Friday, with roughly 3.5 million shares traded—about 17% below its average daily volume.
• Analysts still show a consensus "Sell" with a price target of $8.00, and POET reported a quarterly loss (EPS -$0.11) and revenue below expectations, underscoring ongoing profitability and margin concerns.

POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s share price rose 9.3% during mid-day trading on Friday . The company traded as high as $6.62 and last traded at $6.7020. Approximately 3,497,070 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 4,234,157 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

POET has been the topic of several recent analyst reports. Wall Street Zen raised shares of POET Technologies from a "sell" rating to a "hold" rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of POET Technologies in a research note on Wednesday, October 8th. Finally, Northland Securities set a $8.00 price objective on POET Technologies in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell" and a consensus price target of $8.00.

POET Technologies Trading Up 10.0%

The stock's fifty day simple moving average is $6.10 and its 200 day simple moving average is $5.70. The company has a market cap of $888.39 million, a price-to-earnings ratio of -9.36 and a beta of 0.46.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. The company had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.55 million. On average, analysts predict that POET Technologies Inc. will post -0.45 EPS for the current year.

Hedge Funds Weigh In On POET Technologies

Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of POET Technologies during the 3rd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in POET Technologies during the third quarter worth $27,000. CoreCap Advisors LLC raised its position in POET Technologies by 1,967.2% in the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company's stock valued at $29,000 after purchasing an additional 4,918 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of POET Technologies by 95.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company's stock valued at $47,000 after purchasing an additional 4,142 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of POET Technologies during the 3rd quarter worth $55,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

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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