POET Technologies (NASDAQ:POET) Trading Up 7.9% – Still a Buy?

POET Technologies Inc. (NASDAQ:POET)’s stock price traded up 7.9% during mid-day trading on Thursday . The company traded as high as $5.80 and last traded at $6.0440. 2,775,317 shares were traded during trading, a decline of 69% from the average session volume of 9,049,656 shares. The stock had previously closed at $5.60.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, January 22nd. Northland Securities set a $8.00 target price on shares of POET Technologies in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $8.00.

POET Technologies Trading Up 8.1%

The stock has a 50-day moving average of $6.14 and a two-hundred day moving average of $6.33. The firm has a market cap of $799.38 million, a price-to-earnings ratio of -10.84 and a beta of 0.36.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%.The company had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.40 million. Sell-side analysts expect that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Large investors have recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec lifted its position in shares of POET Technologies by 33.6% in 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 acquiring an additional 155,428 shares in the last quarter. Private Advisor Group LLC acquired a new stake in POET Technologies during the 4th quarter valued at $2,707,000. Raymond James Financial Inc. lifted its holdings in shares of POET Technologies by 75.1% in the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock valued at $2,290,000 after purchasing an additional 177,341 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of POET Technologies by 55.1% in the fourth quarter. Royal Bank of Canada now owns 124,468 shares of the company’s stock valued at $788,000 after purchasing an additional 44,205 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of POET Technologies in the second quarter worth $619,000. Institutional investors and hedge funds 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.