POET Technologies (NASDAQ:POET) Trading Down 7.7% – Time to Sell?

POET Technologies Inc. (NASDAQ:POET) shares traded down 7.7% during mid-day trading on Tuesday . The company traded as low as $13.27 and last traded at $13.46. 12,873,161 shares were traded during trading, a decline of 48% from the average session volume of 24,977,578 shares. The stock had previously closed at $14.59.

More POET Technologies News

Here are the key news stories impacting POET Technologies this week:

• Neutral Sentiment: Several law firms are urging investors who lost money in POET to review their legal options and meet the June 29 lead-plaintiff deadline, keeping the lawsuit in focus. Article Title
• Neutral Sentiment: Market commentary noted that Jim Cramer has been watching POET for months but still has not bought in, which may add to the stock’s speculative, sentiment-driven trading. Article Title
• Negative Sentiment: The securities class action and repeated investor alerts increase uncertainty and could weigh on POET’s share price until there is more clarity on the allegations and potential liability. Article Title
• Negative Sentiment: Short interest jumped sharply in May, with about 20% of the float reported sold short, signaling that bearish bets have increased and momentum traders may be leaning against the stock. Article Title

Analyst Ratings Changes

Several research firms recently commented on POET. Wall Street Zen cut POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Trading Down 0.2%

The company has a market capitalization of $2.04 billion, a PE ratio of -18.42 and a beta of 0.53. The firm has a fifty day moving average of $9.36 and a two-hundred day moving average of $7.34.

POET Technologies (NASDAQ:POET) last issued its earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations 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, equities analysts expect that POET Technologies Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec increased its position in POET Technologies by 33.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock valued at $3,910,000 after buying an additional 155,428 shares in the last quarter. Private Advisor Group LLC bought a new position in POET Technologies during the 4th quarter valued at approximately $2,707,000. Raymond James Financial Inc. increased its position in POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock valued at $2,290,000 after buying an additional 177,341 shares in the last quarter. Royal Bank of Canada increased its position in POET Technologies by 46.8% during the 1st quarter. Royal Bank of Canada now owns 182,682 shares of the company’s stock valued at $1,085,000 after buying an additional 58,214 shares in the last quarter. Finally, Jump Financial LLC bought a new position in POET Technologies during the 2nd quarter valued at approximately $619,000. Institutional investors own 1.99% of the company’s stock.

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.