POET Technologies (NASDAQ:POET) Stock Price Down 14.3% – What’s Next?

POET Technologies Inc. (NASDAQ:POETGet Free Report) shares fell 14.3% during trading on Tuesday . The stock traded as low as $12.56 and last traded at $12.1720. 15,137,611 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 23,831,484 shares. The stock had previously closed at $14.21.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Tuesday, April 21st. Wall Street Zen cut POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell” and a consensus price target of $8.00.

Read Our Latest Analysis on POET Technologies

POET Technologies Trading Up 13.1%

The company has a market capitalization of $2.27 billion, a PE ratio of -20.53 and a beta of 0.53. The company has a fifty day simple moving average of $8.66 and a 200-day simple moving average of $7.06.

POET Technologies (NASDAQ:POETGet Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%.The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.25 million. On average, equities analysts predict that POET Technologies Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Federation des caisses Desjardins du Quebec lifted its stake in shares of POET Technologies by 33.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock valued at $3,910,000 after purchasing an additional 155,428 shares during the last quarter. Private Advisor Group LLC purchased a new position in POET Technologies during the fourth quarter worth about $2,707,000. Raymond James Financial Inc. raised its stake in shares of POET Technologies by 75.1% in the 3rd 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 during the period. Royal Bank of Canada lifted its holdings in shares of POET Technologies by 46.8% in the 1st quarter. Royal Bank of Canada now owns 182,682 shares of the company’s stock worth $1,085,000 after acquiring an additional 58,214 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of POET Technologies during the 2nd quarter worth approximately $619,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

About POET Technologies

(Get Free Report)

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.

Further Reading

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