POET Technologies (NASDAQ:POET) Stock Rating Lowered by Wall Street Zen

POET Technologies (NASDAQ:POET) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.25.

POET Technologies Stock Performance

POET stock opened at $5.39 on Friday. POET Technologies has a one year low of $3.09 and a one year high of $9.41. The firm has a market cap of $489.00 million, a price-to-earnings ratio of -6.65 and a beta of 0.37. The firm has a 50-day simple moving average of $6.39 and a two-hundred day simple moving average of $5.51.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.10). POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%.The firm had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.39 million. As a group, equities analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POET. Waddell & Associates LLC raised its position in POET Technologies by 55.2% during the 1st quarter. Waddell & Associates LLC now owns 41,346 shares of the company’s stock worth $156,000 after buying an additional 14,707 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of POET Technologies during the 1st quarter valued at about $47,000. US Bancorp DE raised its stake in shares of POET Technologies by 12,881.1% during the 1st quarter. US Bancorp DE now owns 28,169 shares of the company’s stock valued at $106,000 after buying an additional 27,952 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of POET Technologies by 120.5% in the 1st quarter. Virtu Financial LLC now owns 47,351 shares of the company’s stock valued at $179,000 after buying an additional 25,879 shares during the period. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of POET Technologies in the first quarter worth about $26,000. 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.