POET Technologies (NASDAQ:POET) Shares Down 8.1% - Should You Sell?

POET Technologies Inc. (NASDAQ:POET - Get Free Report) fell 8.1% on Monday . The company traded as low as $5.11 and last traded at $5.30. 3,105,868 shares changed hands during trading, an increase of 93% from the average session volume of 1,608,282 shares. The stock had previously closed at $5.77.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded POET Technologies from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

POET Technologies Stock Performance

The company has a 50 day moving average of $4.62 and a two-hundred day moving average of $4.55. The stock has a market cap of $609.61 million, a PE ratio of -9.69 and a beta of 0.28.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.17. The business had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.56 million. As a group, equities research analysts anticipate that POET Technologies Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On POET Technologies

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in POET Technologies during the fourth quarter worth about $252,000. HighTower Advisors LLC purchased a new stake in shares of POET Technologies in the 4th quarter valued at approximately $116,000. BluePointe Capital Management LLC purchased a new stake in shares of POET Technologies during the 4th quarter valued at approximately $244,000. EntryPoint Capital LLC acquired a new stake in POET Technologies during the fourth quarter worth $119,000. Finally, Tyler Stone Wealth Management raised its position in POET Technologies by 4.0% in the fourth quarter. Tyler Stone Wealth Management now owns 281,800 shares of the company's stock valued at $1,677,000 after purchasing an additional 10,800 shares during the period. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

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.