POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw some unusual options trading activity on Monday. Traders purchased 7,105 call options on the stock. This is an increase of approximately 105% compared to the typical daily volume of 3,464 call options.

POET Technologies Stock Down 7.5%

NASDAQ:POET traded down $0.34 during mid-day trading on Thursday, hitting $4.15. 1,382,190 shares of the stock traded hands, compared to its average volume of 1,549,930. The business's 50-day moving average price is $4.10 and its 200 day moving average price is $4.52. The company has a market cap of $325.21 million, a PE ratio of -7.03 and a beta of 0.19. POET Technologies has a 12-month low of $1.65 and a 12-month high of $7.79.

POET Technologies (NASDAQ:POET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.17. The firm had revenue of $0.17 million for the quarter, compared to analysts' expectations of $0.56 million. Analysts anticipate that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of POET Technologies from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC purchased a new position in POET Technologies in the 1st quarter worth approximately $26,000. Sentry LLC purchased a new position in POET Technologies in the 1st quarter worth approximately $38,000. Tyler Stone Wealth Management grew its stake in POET Technologies by 4.0% in the 4th quarter. Tyler Stone Wealth Management now owns 281,800 shares of the company's stock worth $1,677,000 after buying an additional 10,800 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in POET Technologies in the 1st quarter worth approximately $47,000. Finally, Polymer Capital Management US LLC purchased a new position in POET Technologies in the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 1.99% of the company's stock.

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.