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

Key Points

• Wall Street Zen upgraded POET Technologies from “sell” to “hold,” but Weiss Ratings maintained a “sell (D-)” rating. The overall analyst consensus remains “Sell,” with a target price of $8.00.
• POET shares were trading at $9.58, up 7.5%, with a market capitalization of approximately $1.47 billion. The stock has ranged from $3.87 to $20.81 over the past year.
• The company met quarterly expectations with an adjusted loss of $0.07 per share and reported $0.57 million in revenue, while continuing to post negative profitability metrics. Institutional investors and hedge funds own about 1.99% of POET’s shares.

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 research note issued to investors on Saturday.

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

POET Technologies Trading Up 7.5%

POET stock opened at $9.58 on Friday. The business's 50-day moving average price is $9.25 and its two-hundred day moving average price is $8.74. The firm has a market cap of $1.47 billion, a PE ratio of -16.52 and a beta of 0.81. POET Technologies has a 1-year low of $3.87 and a 1-year high of $20.81.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). POET Technologies had a negative return on equity of 19.33% and a negative net margin of 4,423.13%.The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.50 million. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, analysts forecast that POET Technologies will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On POET Technologies

A number of large investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in shares of POET Technologies by 34.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company's stock worth $85,000 after acquiring an additional 3,473 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of POET Technologies in the third quarter worth $25,000. Quarry LP bought a new stake in shares of POET Technologies in the fourth quarter worth $29,000. Moneta Group Investment Advisors LLC boosted its holdings in POET Technologies by 31.8% during the third quarter. Moneta Group Investment Advisors LLC now owns 23,533 shares of the company's stock worth $130,000 after purchasing an additional 5,681 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in POET Technologies by 22.3% during the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company's stock worth $181,000 after purchasing an additional 6,340 shares during the last quarter. Institutional investors and hedge funds own 1.99% of the company's stock.

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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