POET Technologies (NASDAQ:POET) Trading Up 10% - What's Next?

Key Points

• POET Technologies shares rose about 10% to $8.715 during Tuesday’s trading, with roughly 10.4 million shares changing hands—about 53% below average volume.
• Analyst sentiment remains weak: the stock carries a consensus “Sell” rating and an $8.00 target price, despite Wall Street Zen upgrading it from “Sell” to “Hold.”
• The company met quarterly EPS expectations with a loss of $0.07 per share and reported $570,000 in revenue, but it continues to post significant losses; analysts expect a full-year loss of approximately $0.28 per share.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) traded up 10% during mid-day trading on Tuesday . The stock traded as high as $8.66 and last traded at $8.7150. 10,420,408 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 22,017,029 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

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

POET Technologies Stock Up 8.1%

The business has a 50-day moving average price of $8.13 and a 200-day moving average price of $8.99. The firm has a market capitalization of $1.32 billion, a PE ratio of -14.81 and a beta of 0.83.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). The firm had revenue of $0.57 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.21) earnings per share. On average, equities research analysts anticipate that POET Technologies Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new stake in shares of POET Technologies during the 4th quarter valued at approximately $2,707,000. Raymond James Financial Inc. grew its position in POET Technologies by 75.1% in the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company's stock worth $2,290,000 after acquiring an additional 177,341 shares during the period. Federation des caisses Desjardins du Quebec increased its stake in POET Technologies by 33.6% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company's stock worth $3,910,000 after acquiring an additional 155,428 shares during the last quarter. Jump Financial LLC purchased a new position in shares of POET Technologies during the 2nd quarter worth $619,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of POET Technologies during the 1st quarter worth about $598,000. Hedge funds and other institutional investors own 1.99% of the company's stock.

POET Technologies Company Profile

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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