POET Technologies (NASDAQ:POET) Shares Up 8.4% – Should You Buy?

POET Technologies Inc. (NASDAQ:POET)’s stock price rose 8.4% on Tuesday . The stock traded as high as $8.02 and last traded at $8.0950. Approximately 1,433,547 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 24,721,428 shares. The stock had previously closed at $7.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a research note on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Trading Up 12.0%

The stock’s 50 day moving average price is $11.69 and its two-hundred day moving average price is $8.68. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -11.62 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. On average, sell-side analysts forecast that POET Technologies Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. boosted its position in shares of POET Technologies by 34.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock worth $85,000 after buying an additional 3,473 shares in the last quarter. Advisory Services Network LLC purchased a new position in POET Technologies during the 3rd quarter valued at about $25,000. Quarry LP purchased a new position in POET Technologies during the 4th quarter valued at about $29,000. Moneta Group Investment Advisors LLC raised its position in POET Technologies by 31.8% during the third quarter. Moneta Group Investment Advisors LLC now owns 23,533 shares of the company’s stock worth $130,000 after acquiring an additional 5,681 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position 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 acquiring an additional 6,340 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.