777,831 Shares in POET Technologies Inc. $POET Purchased by Fund Resources Investment Holding Group Co Ltd

Fund Resources Investment Holding Group Co Ltd acquired a new stake in POET Technologies Inc. (NASDAQ:POET) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 777,831 shares of the company’s stock, valued at approximately $5,818,000. POET Technologies makes up about 1.6% of Fund Resources Investment Holding Group Co Ltd’s portfolio, making the stock its 6th largest holding. Fund Resources Investment Holding Group Co Ltd owned approximately 0.45% of POET Technologies at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in shares of POET Technologies by 33.0% in the third quarter. Commonwealth Equity Services LLC now owns 17,189 shares of the company’s stock worth $129,000 after purchasing an additional 4,267 shares during the period. Quintet Private Bank Europe S.A. increased its stake in shares of POET Technologies by 220.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 8,000 shares of the company’s stock valued at $60,000 after purchasing an additional 5,500 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of POET Technologies by 58.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,679 shares of the company’s stock worth $152,000 after buying an additional 5,807 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in POET Technologies by 14.0% in the third quarter. SBI Securities Co. Ltd. now owns 47,874 shares of the company’s stock valued at $358,000 after buying an additional 5,897 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in POET Technologies in the first quarter valued at about $59,000. 1.99% of the stock is currently owned by institutional investors.

POET Technologies Stock Up 19.0%

Shares of POET stock traded up $0.81 during mid-day trading on Friday, reaching $5.07. 9,768,982 shares of the stock traded hands, compared to its average volume of 8,410,136. The stock’s fifty day simple moving average is $6.76 and its two-hundred day simple moving average is $8.19. POET Technologies Inc. has a 1-year low of $3.87 and a 1-year high of $20.81. The company has a market cap of $877.31 million, a price-to-earnings ratio of -8.74 and a beta of 0.91.

POET Technologies (NASDAQ:POET) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%. The business had revenue of $0.57 million during the quarter, compared to the consensus estimate of $0.50 million. During the same period in the previous year, the company posted ($0.21) earnings per share. On average, equities research analysts anticipate that POET Technologies Inc. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of POET Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Company Profile

POET Technologies Inc (NASDAQ:POET) is a semiconductor and photonics company that develops optical components and integrated solutions for high-speed communications. Its technologies are designed to support applications in data centers, artificial intelligence and machine learning infrastructure, telecommunications, and other markets that require high-bandwidth, energy-efficient data transmission.

The company’s portfolio is centered on the POET Optical Interposer, a platform that integrates optical and electronic components into compact, scalable modules.