POET Technologies (NASDAQ:POET) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Stock Up 7.5%

NASDAQ POET opened at $9.58 on Friday. POET Technologies has a 52 week low of $3.87 and a 52 week high of $20.81. The company has a 50 day moving average price of $9.25 and a 200 day moving average price of $8.74. The firm has a market cap of $1.47 billion, a PE ratio of -16.52 and a beta of 0.81.

POET Technologies (NASDAQ:POET) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 19.33%. The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.50 million. During the same period last year, the firm earned ($0.21) earnings per share. On average, equities research analysts anticipate that POET Technologies will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in shares of POET Technologies during the third quarter valued at $25,000. Quarry LP purchased a new position in POET Technologies in the 4th quarter worth $29,000. Coldstream Capital Management Inc. purchased a new position in POET Technologies in the 3rd quarter worth $55,000. Shelton Wealth Management LLC acquired a new stake in POET Technologies during the 1st quarter worth about $59,000. Finally, PNC Financial Services Group Inc. acquired a new stake in POET Technologies during the 1st quarter worth about $59,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

About POET Technologies

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.