POET Technologies (NASDAQ:POET) Trading 8% Higher - Time to Buy?

Key Points

• POET Technologies shares rose 8% to about $9.62 in Friday trading, although volume was roughly 80% below the average daily level.
• Despite meeting quarterly EPS expectations at a loss of $0.07 and reporting $0.57 million in revenue, the company remains unprofitable, with a negative return on equity and net margin.
• Analyst sentiment remains bearish: Weiss Ratings reaffirmed a “sell (D-)” rating, and the consensus rating is “Sell” with an $8.00 price target—below the current share price.

POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s share price was up 8% on Friday . The company traded as high as $9.49 and last traded at $9.6230. Approximately 4,674,172 shares were traded during trading, a decline of 80% from the average daily volume of 23,376,996 shares. The stock had previously closed at $8.91.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of POET Technologies in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus target price of $8.00.

POET Technologies Stock Up 5.9%

The stock has a market capitalization of $1.45 billion, a PE ratio of -13.06 and a beta of 0.81. The firm's fifty day moving average is $9.29 and its 200-day moving average is $8.73.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%.The company had revenue of $0.57 million for the quarter, compared to analyst estimates of $0.50 million. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, analysts expect that POET Technologies Inc. will post -0.24 EPS for the current year.

Institutional Trading of POET Technologies

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in POET Technologies in the third quarter worth $25,000. Quarry LP purchased a new stake in shares of POET Technologies during the 4th quarter worth $29,000. Shelton Wealth Management LLC acquired a new position in shares of POET Technologies during the 1st quarter worth $59,000. PNC Financial Services Group Inc. acquired a new position in shares of POET Technologies during the 1st quarter worth $59,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of POET Technologies in the 3rd quarter valued at about $55,000. 1.99% of the stock is currently owned by hedge funds and other 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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