POET Technologies (NASDAQ:POET) Shares Down 8.2% - Should You Sell?

Key Points

• POET Technologies shares fell 8.2% to $7.52, with trading volume of 6.4 million shares—72% below the average session volume.
• Analyst sentiment remains negative: the stock has an average “Sell” rating and an $8.00 average price target, though Wall Street Zen recently upgraded it to “Hold.”
• The company reported a quarterly loss of $0.07 per share, in line with estimates, and revenue of $0.57 million. POET remains unprofitable, with analysts expecting a full-year loss of $0.24 per share.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) traded down 8.2% during trading on Friday . The stock traded as low as $7.49 and last traded at $7.52. 6,411,518 shares were traded during trading, a decline of 72% from the average session volume of 22,510,285 shares. The stock had previously closed at $8.19.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of POET Technologies in a research report on Friday, July 17th. Wall Street Zen raised shares of POET Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell" and an average price target of $8.00.

POET Technologies Price Performance

The business has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $8.91. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.93 and a beta of 0.81.

POET Technologies (NASDAQ:POET - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.The business had revenue of $0.57 million during the quarter, compared to analysts' expectations of $0.50 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. On average, equities research analysts predict that POET Technologies Inc. will post -0.24 EPS for the current year.

Institutional Trading of POET Technologies

Several hedge funds have recently made changes to their positions in POET. Advisory Services Network LLC purchased a new position in shares of POET Technologies in the third quarter valued at approximately $25,000. Quarry LP purchased a new stake in POET Technologies during the 4th quarter worth approximately $29,000. PNC Financial Services Group Inc. acquired a new stake in POET Technologies during the 1st quarter worth approximately $59,000. Shelton Wealth Management LLC acquired a new stake in POET Technologies during the 1st quarter worth approximately $59,000. Finally, Coldstream Capital Management Inc. purchased a new position in POET Technologies in the 3rd quarter valued at approximately $55,000. 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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