POET Technologies (NASDAQ:POET) Stock Price Up 9.7% - Time to Buy?

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) rose 9.7% on Monday . The company traded as high as $6.68 and last traded at $6.88. Approximately 421,274 shares changed hands during trading, a decline of 75% from the average daily volume of 1,691,603 shares. The stock had previously closed at $6.27.

Analyst Upgrades and Downgrades

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

POET Technologies Price Performance

The stock has a 50 day moving average of $5.05 and a 200-day moving average of $4.57.

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

Institutional Trading of POET Technologies

Large investors have recently made changes to their positions in the business. Tyler Stone Wealth Management raised its holdings in shares of POET Technologies by 24.1% during the first quarter. Tyler Stone Wealth Management now owns 349,800 shares of the company's stock worth $1,322,000 after purchasing an additional 68,000 shares during the last quarter. Strengthening Families & Communities LLC purchased a new position in shares of POET Technologies during the 1st quarter valued at about $26,000. Virtu Financial LLC lifted its holdings in shares of POET Technologies by 120.5% in the 1st quarter. Virtu Financial LLC now owns 47,351 shares of the company's stock valued at $179,000 after buying an additional 25,879 shares during the period. US Bancorp DE boosted its stake in shares of POET Technologies by 12,881.1% in the first quarter. US Bancorp DE now owns 28,169 shares of the company's stock worth $106,000 after buying an additional 27,952 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in POET Technologies during the first quarter worth about $47,000. 1.99% of the stock is 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.