POET Technologies (NASDAQ:POET) Trading Down 9.7% – Should You Sell?

POET Technologies Inc. (NASDAQ:POET)’s stock price dropped 9.7% during trading on Tuesday . The company traded as low as $10.89 and last traded at $10.9230. 8,684,374 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 26,298,559 shares. The stock had previously closed at $12.09.

Analyst Upgrades and Downgrades

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

POET Technologies Stock Performance

The company has a 50-day moving average of $11.80 and a 200-day moving average of $8.36. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -15.20 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last released its earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.25 million. As a group, equities research analysts forecast that POET Technologies Inc. will post -0.24 EPS for the current year.

Institutional Trading of POET Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC purchased a new position in POET Technologies during the second quarter worth about $619,000. Raymond James Financial Inc. grew its holdings in POET Technologies by 253.1% during the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock worth $1,230,000 after acquiring an additional 169,158 shares during the period. Osaic Holdings Inc. raised its position in POET Technologies by 22.3% in 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 in the last quarter. Aptus Capital Advisors LLC lifted its holdings in POET Technologies by 8.0% in the third quarter. Aptus Capital Advisors LLC now owns 105,709 shares of the company’s stock valued at $586,000 after acquiring an additional 7,800 shares during the period. Finally, NewGen Asset Management Ltd purchased a new stake in shares of POET Technologies during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.