POET Technologies (NASDAQ:POET) Sees Large Volume Increase – Time to Buy?

Shares of POET Technologies Inc. (NASDAQ:POET) saw an uptick in trading volume on Tuesday . 1,689,056 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 1,572,891 shares.The stock last traded at $6.05 and had previously closed at $5.16.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of POET Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.25.

POET Technologies Stock Performance

The firm has a market cap of $522.55 million, a PE ratio of -7.12 and a beta of 0.38. The company’s 50-day simple moving average is $5.54 and its two-hundred day simple moving average is $4.76.

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

Institutional Investors Weigh In On POET Technologies

Several institutional investors have recently added to or reduced their stakes in POET. Paragon Capital Management Ltd lifted its position in shares of POET Technologies by 438.4% in the 1st quarter. Paragon Capital Management Ltd now owns 579,300 shares of the company’s stock worth $2,190,000 after purchasing an additional 471,700 shares during the period. Bank of America Corp DE lifted its position in shares of POET Technologies by 4,125.1% in the 4th quarter. Bank of America Corp DE now owns 46,899 shares of the company’s stock worth $279,000 after purchasing an additional 45,789 shares during the period. Tyler Stone Wealth Management lifted its position in shares of POET Technologies by 24.1% in the 1st quarter. Tyler Stone Wealth Management now owns 349,800 shares of the company’s stock worth $1,322,000 after purchasing an additional 68,000 shares during the period. US Bancorp DE lifted its position in shares of POET Technologies by 12,881.1% in the 1st quarter. US Bancorp DE now owns 28,169 shares of the company’s stock worth $106,000 after purchasing an additional 27,952 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of POET Technologies in the 1st quarter worth about $47,000. 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.