POET Technologies (NASDAQ:POET) Stock Rating Upgraded by Wall Street Zen

Key Points

• POET Technologies was upgraded from a "sell" to a "hold" rating by Wall Street Zen, while Weiss Ratings maintained a "sell (d-)" rating on the stock.
• The company reported a quarterly loss of ($0.21) earnings per share, missing analysts' expectations and had a negative net margin of 11,497.01%.
• POET Technologies has an average rating of "Moderate Buy" with a consensus price target of $6.25 according to MarketBeat.

POET Technologies (NASDAQ:POET - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of POET Technologies in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, POET Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $6.25.

POET Technologies Price Performance

NASDAQ POET traded down $0.28 during trading hours on Friday, reaching $6.22. 4,319,693 shares of the stock traded hands, compared to its average volume of 3,012,534. The stock has a 50 day simple moving average of $5.44 and a two-hundred day simple moving average of $4.88. POET Technologies has a 1 year low of $3.09 and a 1 year high of $7.79. The company has a market cap of $564.28 million, a price-to-earnings ratio of -7.68 and a beta of 0.37.

POET Technologies (NASDAQ:POET - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10). POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. The firm had revenue of $0.27 million for the quarter, compared to analysts' expectations of $0.39 million. On average, sell-side analysts forecast that POET Technologies will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of POET. Strengthening Families & Communities LLC purchased a new position in shares of POET Technologies in the first quarter worth about $26,000. Sentry LLC purchased a new position in shares of POET Technologies in the first quarter worth about $38,000. Baader Bank Aktiengesellschaft purchased a new position in POET Technologies during the 1st quarter valued at about $47,000. Steward Partners Investment Advisory LLC increased its holdings in POET Technologies by 390.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 13,520 shares of the company's stock valued at $70,000 after purchasing an additional 10,763 shares during the period. Finally, Scotia Capital Inc. increased its holdings in POET Technologies by 13.0% during the 2nd quarter. Scotia Capital Inc. now owns 18,295 shares of the company's stock valued at $95,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 1.99% of the company's stock.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.

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