POET Technologies (NASDAQ:POET) Trading Down 4.3% – Here’s What Happened

POET Technologies Inc. (NASDAQ:POET) shares fell 4.3% on Tuesday . The stock traded as low as $6.96 and last traded at $6.9880. 7,396,741 shares changed hands during trading, a decline of 21% from the average session volume of 9,319,452 shares. The stock had previously closed at $7.30.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $8.00.

POET Technologies Stock Performance

The stock has a market cap of $931.15 million, a price-to-earnings ratio of -12.59 and a beta of 0.36. The company has a 50-day simple moving average of $6.18 and a two-hundred day simple moving average of $6.40.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). POET Technologies had a negative net margin of 5,857.02% and a negative return on equity of 38.88%. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $0.40 million. As a group, sell-side analysts predict that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of POET Technologies

A number of large investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in shares of POET Technologies during the 2nd quarter worth about $619,000. Raymond James Financial Inc. lifted its stake in POET Technologies by 253.1% in the 2nd quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock valued at $1,230,000 after purchasing an additional 169,158 shares during the last quarter. Marex Group plc bought a new position in POET Technologies during the second quarter worth about $198,000. Osaic Holdings Inc. grew its holdings in POET Technologies by 22.3% during the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock worth $181,000 after purchasing an additional 6,340 shares during the period. Finally, HBW Advisory Services LLC acquired a new position in POET Technologies during the third quarter worth approximately $57,000. Institutional investors and hedge funds 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.