POET Technologies (NASDAQ:POET) Shares Up 8.1% - Time to Buy?

Key Points

• POET Technologies shares rose 8.1% to $8.43 in mid-day trading, although volume was about 80% below the stock’s average daily volume.
• Analyst sentiment remains negative: the stock carries an average “Sell” rating and an $8.00 average price target, below its trading price.
• The company met quarterly EPS expectations at a loss of $0.07 per share and reported $0.57 million in revenue, but continues to have substantial losses, including a negative net margin of 4,423.13%.

Shares of POET Technologies Inc. (NASDAQ:POET - Get Free Report) were up 8.1% during mid-day trading on Monday . The stock traded as high as $8.45 and last traded at $8.43. 4,293,951 shares changed hands during trading, a decline of 80% from the average daily volume of 21,306,025 shares. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

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

POET Technologies Stock Performance

The stock's 50 day moving average price is $7.90 and its 200 day moving average price is $9.10. The company has a market capitalization of $1.32 billion, a P/E ratio of -14.87 and a beta of 0.83.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). The business had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.50 million. POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 11.65%. During the same quarter last year, the firm earned ($0.21) earnings per share. On average, analysts expect that POET Technologies Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Several large investors have recently added to or reduced their stakes in POET. Royal Bank of Canada increased its holdings in POET Technologies by 46.8% in the first quarter. Royal Bank of Canada now owns 182,682 shares of the company's stock worth $1,085,000 after purchasing an additional 58,214 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of POET Technologies during the 1st quarter worth approximately $598,000. Headlands Technologies LLC grew its position in shares of POET Technologies by 53.1% during the 2nd quarter. Headlands Technologies LLC now owns 56,776 shares of the company's stock worth $584,000 after buying an additional 19,692 shares during the period. SummitTX Capital L.P. bought a new stake in shares of POET Technologies in the 1st quarter valued at $452,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of POET Technologies by 3,806.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 56,408 shares of the company's stock valued at $357,000 after acquiring an additional 54,964 shares in the last quarter. Institutional investors and hedge funds own 1.99% of the company's stock.

POET Technologies Company Profile

POET Technologies, Inc is a technology company that develops photonic integrated circuits, optical engines and related semiconductor components for high-speed communications. Its products are designed to convert and transmit data using light, supporting applications in data centers, telecommunications networks, artificial intelligence infrastructure and high-performance computing.

The company's technology is based on its Optical Interposer platform, which integrates electronic and photonic components into compact, scalable modules.

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