Stock Traders Buy Large Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 15,782 call options on the company. This is an increase of approximately 340% compared to the average volume of 3,589 call options.

POET Technologies Stock Performance

POET stock traded down $0.23 during midday trading on Friday, hitting $5.22. 4,680,249 shares of the stock were exchanged, compared to its average volume of 1,647,609. The stock's 50-day moving average price is $4.32 and its 200-day moving average price is $4.48. The stock has a market cap of $442.71 million, a price-to-earnings ratio of -7.05 and a beta of 0.25. POET Technologies has a fifty-two week low of $2.19 and a fifty-two week high of $7.79.

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 analysts' consensus estimates 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. Research analysts anticipate that POET Technologies will post -0.45 EPS for the current year.

Hedge Funds Weigh In On POET Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC purchased a new stake in shares of POET Technologies in the first quarter valued at about $26,000. Sentry LLC acquired a new position in shares of POET Technologies during the 1st quarter worth approximately $38,000. Baader Bank Aktiengesellschaft purchased a new stake in POET Technologies in the 1st quarter valued at approximately $47,000. Polymer Capital Management US LLC acquired a new stake in POET Technologies during the 4th quarter valued at $77,000. Finally, JPMorgan Chase & Co. purchased a new position in POET Technologies during the fourth quarter worth $94,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

POET Technologies Company Profile

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.