Traders Buy Large Volume of Call Options on POET Technologies (NASDAQ:POET)

Key Points

• Traders purchased an unusually large volume of calls—58,400 call options, about 72% above typical daily call volume—which coincided with the stock jumping 13.8% to $6.83 on heavy trading (10.33M shares).
• Analyst sentiment remains cautious with a MarketBeat consensus rating of "Sell" and a consensus price target of $8.00, although some services (e.g., Wall Street Zen) have moved the stock to a "hold."
• Several hedge funds materially increased positions (notably MMCAP’s stake rose ~2,198.7%), even as institutional ownership is reported as low (~1.99%), suggesting mixed investor conviction behind recent activity.

POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the target of unusually large options trading on Monday. Traders purchased 58,400 call options on the stock. This represents an increase of 72% compared to the typical daily volume of 33,880 call options.

Wall Street Analyst Weigh In

Several analysts have weighed in on POET shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of POET Technologies in a research report on Thursday, January 22nd. Northland Securities set a $8.00 target price on shares of POET Technologies in a research note on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of POET Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, POET Technologies has an average rating of "Sell" and a consensus price target of $8.00.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds have recently bought and sold shares of the company. MMCAP International Inc. SPC increased its stake in POET Technologies by 2,198.7% during the 2nd quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company's stock valued at $30,710,000 after purchasing an additional 5,637,964 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of 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 valued at $3,910,000 after buying an additional 155,428 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of POET Technologies during the fourth quarter valued at approximately $2,707,000. Raymond James Financial Inc. increased its position in shares of POET Technologies by 75.1% during the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company's stock valued at $2,290,000 after acquiring an additional 177,341 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in POET Technologies in the 2nd quarter worth approximately $855,000. Institutional investors own 1.99% of the company's stock.

POET Technologies Trading Up 13.8%

NASDAQ:POET traded up $0.83 during trading hours on Monday, reaching $6.83. 10,327,738 shares of the company traded hands, compared to its average volume of 8,396,882. The business's 50-day moving average price is $6.60 and its two-hundred day moving average price is $6.16. POET Technologies has a 1 year low of $3.09 and a 1 year high of $9.41. The stock has a market capitalization of $901.56 million, a P/E ratio of -9.52 and a beta of 0.36.

About POET Technologies

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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