POET Technologies Sees Unusually Large Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) saw some unusual options trading activity on Monday. Traders acquired 107,814 call options on the stock. This represents an increase of approximately 228% compared to the typical volume of 32,907 call options.

Institutional Investors Weigh In On POET Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings in POET Technologies by 34.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock valued at $85,000 after purchasing an additional 3,473 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in POET Technologies by 95.3% during the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock valued at $47,000 after purchasing an additional 4,142 shares during the last quarter. Advisory Services Network LLC purchased a new stake in POET Technologies during the third quarter valued at about $25,000. Quarry LP purchased a new stake in POET Technologies during the fourth quarter valued at about $29,000. Finally, CoreCap Advisors LLC lifted its holdings in POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after purchasing an additional 4,918 shares during the last quarter. 1.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on POET shares. Wall Street Zen lowered shares of 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 Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, POET Technologies currently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Performance

NASDAQ POET traded up $1.51 during trading on Monday, hitting $8.77. 31,837,701 shares of the company’s stock traded hands, compared to its average volume of 9,894,178. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.75 and a beta of 0.36. POET Technologies has a 12-month low of $3.58 and a 12-month high of $9.41. The business has a 50 day moving average of $6.25 and a 200-day moving average of $6.42.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $0.40 million. POET Technologies had a negative net margin of 5,857.02% and a negative return on equity of 38.88%. On average, analysts expect that POET Technologies will post -0.45 EPS for the current year.

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.