POET Technologies Target of Unusually High Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the target of some unusual options trading on Thursday. Traders purchased 15,782 call options on the company. This represents an increase of 340% compared to the average daily volume of 3,589 call options.

POET Technologies Price Performance

Shares of NASDAQ:POET traded down $0.23 during midday trading on Friday, reaching $5.22. 4,680,249 shares of the company's stock were exchanged, compared to its average volume of 1,650,839. 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 $1.83 and a fifty-two week high of $7.79. The firm's 50 day simple moving average is $4.32 and its two-hundred day simple moving average is $4.48.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.17. The company had revenue of $0.17 million for the quarter, compared to analysts' expectations of $0.56 million. Equities research analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new stake in shares of POET Technologies in the 4th quarter valued at $3,999,000. Paragon Capital Management Ltd grew its position in POET Technologies by 438.4% in the 1st quarter. Paragon Capital Management Ltd now owns 579,300 shares of the company's stock valued at $2,190,000 after acquiring an additional 471,700 shares in the last quarter. Jump Financial LLC purchased a new stake in POET Technologies during the fourth quarter worth about $1,834,000. Renaissance Technologies LLC increased its stake in POET Technologies by 952.0% during the fourth quarter. Renaissance Technologies LLC now owns 311,816 shares of the company's stock worth $1,855,000 after purchasing an additional 282,176 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of POET Technologies during the fourth quarter worth about $545,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.