POET Technologies (NASDAQ:POET) Stock Price Down 3.7% - Time to Sell?

Key Points

• POET Technologies shares fell 3.7% to about $8.10, with trading volume down 92% from its average. The stock’s consensus price target is $8.00, and its average analyst rating is “Sell.”
• The company matched estimates with a quarterly loss of $0.07 per share and reported $0.57 million in revenue, but continued to post negative profitability metrics, including a 4,423.13% net margin.
• Several institutional investors increased or initiated positions, though institutions own only 1.99% of the company. POET develops photonic integrated circuits and optical components for data centers, telecommunications, AI infrastructure and high-performance computing.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) dropped 3.7% during trading on Tuesday . The stock traded as low as $8.08 and last traded at $8.0950. Approximately 1,735,935 shares were traded during trading, a decline of 92% from the average daily volume of 21,241,141 shares. The stock had previously closed at $8.41.

Analyst Upgrades and Downgrades

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

POET Technologies Price Performance

The firm's 50 day moving average is $7.91 and its 200 day moving average is $9.11. The company has a market cap of $1.24 billion, a PE ratio of -13.94 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 for the quarter, compared to analyst estimates of $0.50 million. POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.During the same period in the prior year, the company earned ($0.21) EPS. As a group, analysts anticipate that POET Technologies Inc. will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of POET Technologies by 46.8% in the 1st quarter. Royal Bank of Canada now owns 182,682 shares of the company's stock valued at $1,085,000 after purchasing an additional 58,214 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in POET Technologies in the first quarter worth $598,000. Headlands Technologies LLC boosted its position in POET Technologies by 53.1% during the second quarter. Headlands Technologies LLC now owns 56,776 shares of the company's stock valued at $584,000 after buying an additional 19,692 shares during the period. SummitTX Capital L.P. purchased a new stake in POET Technologies during the first quarter valued at about $452,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of POET Technologies by 3,806.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 56,408 shares of the company's stock valued at $357,000 after buying an additional 54,964 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors.

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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