POET Technologies Inc. (NASDAQ:POET – Get Free Report)’s share price was up 8% on Friday . The company traded as high as $9.49 and last traded at $9.6230. Approximately 4,674,172 shares were traded during trading, a decline of 80% from the average daily volume of 23,376,996 shares. The stock had previously closed at $8.91.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus target price of $8.00.
Get Our Latest Analysis on POET Technologies
POET Technologies Stock Up 5.9%
POET Technologies (NASDAQ:POET – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). 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 $0.57 million for the quarter, compared to analyst estimates of $0.50 million. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, analysts expect that POET Technologies Inc. will post -0.24 EPS for the current year.
Institutional Trading of POET Technologies
Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in POET Technologies in the third quarter worth $25,000. Quarry LP purchased a new stake in shares of POET Technologies during the 4th quarter worth $29,000. Shelton Wealth Management LLC acquired a new position in shares of POET Technologies during the 1st quarter worth $59,000. PNC Financial Services Group Inc. acquired a new position in shares of POET Technologies during the 1st quarter worth $59,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of POET Technologies in the 3rd quarter valued at about $55,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.
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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