Renaissance Technologies LLC Has $1.86 Million Stock Position in POET Technologies Inc. (NASDAQ:POET)

Renaissance Technologies LLC grew its holdings in POET Technologies Inc. (NASDAQ:POET - Free Report) by 952.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,816 shares of the company's stock after acquiring an additional 282,176 shares during the quarter. Renaissance Technologies LLC owned 0.41% of POET Technologies worth $1,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of POET. Virtu Financial LLC bought a new position in POET Technologies during the 3rd quarter worth $319,000. Raymond James Financial Inc. acquired a new stake in shares of POET Technologies during the 4th quarter worth $252,000. BluePointe Capital Management LLC acquired a new position in POET Technologies in the fourth quarter valued at about $244,000. EntryPoint Capital LLC bought a new stake in POET Technologies during the fourth quarter worth about $119,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in POET Technologies during the fourth quarter worth about $119,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

POET Technologies Stock Performance

Shares of NASDAQ POET traded up $0.09 during trading hours on Thursday, hitting $4.17. 132,452 shares of the stock were exchanged, compared to its average volume of 1,548,456. POET Technologies Inc. has a 1-year low of $1.60 and a 1-year high of $7.79. The company has a market cap of $325.58 million, a PE ratio of -7.07 and a beta of 0.48. The company's fifty day simple moving average is $3.83 and its two-hundred day simple moving average is $4.43.

POET Technologies (NASDAQ:POET - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. As a group, sell-side analysts expect that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

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.