POET Technologies (NASDAQ:POET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of POET Technologies (NASDAQ:POET) from a sell rating to a hold rating in a research report released on Sunday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.25.

POET Technologies Stock Performance

POET opened at $4.29 on Friday. The company has a fifty day moving average price of $6.31 and a two-hundred day moving average price of $5.54. POET Technologies has a 52 week low of $3.09 and a 52 week high of $9.41. The firm has a market capitalization of $389.20 million, a PE ratio of -5.30 and a beta of 0.37.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.55 million. Equities analysts forecast that POET Technologies will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of POET Technologies during the third quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in POET Technologies during the 1st quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in POET Technologies during the 3rd quarter worth approximately $27,000. CoreCap Advisors LLC raised its holdings in POET Technologies by 1,967.2% during the 3rd quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock worth $29,000 after buying an additional 4,918 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in POET Technologies in the first quarter valued at approximately $47,000. 1.99% of the stock is owned by institutional investors and hedge funds.

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.