POET Technologies (NASDAQ:POET – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, Zacks reports. The company had revenue of $0.57 million for the quarter, compared to the consensus estimate of $0.50 million. POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%.During the same quarter in the previous year, the business earned ($0.21) EPS.
POET Technologies Trading Up 3.0%
Shares of POET Technologies stock traded up $0.27 on Thursday, reaching $9.14. 12,329,906 shares of the company were exchanged, compared to its average volume of 23,473,518. POET Technologies has a fifty-two week low of $3.87 and a fifty-two week high of $20.81. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.70 and a beta of 0.81. The stock has a fifty day moving average price of $9.42 and a 200-day moving average price of $8.72.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell” and an average price target of $8.00.
Hedge Funds Weigh In On POET Technologies
Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in POET Technologies during the fourth quarter valued at about $2,707,000. Raymond James Financial Inc. increased its position in shares of POET Technologies by 75.1% in the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock worth $2,290,000 after acquiring an additional 177,341 shares in the last quarter. Federation des caisses Desjardins du Quebec raised 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 acquiring an additional 155,428 shares during the period. Jump Financial LLC purchased a new stake in shares of POET Technologies in the 2nd quarter valued at approximately $619,000. Finally, Sona Asset Management US LLC acquired a new position in POET Technologies in the 4th quarter worth approximately $633,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.
POET Technologies Company Profile
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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