Zacks Investment Research downgraded shares of POET Technologies (OTCMKTS:POETF) from a hold rating to a sell rating in a research note released on Friday morning.
According to Zacks, “POET Technologies Inc. and its subsidiaries are developers of opto-electronic and photonic fabrication processes, devices and products. It offers photonic sensing and optical light source products. The company operates primarily in the United States, Canada and Singapore. POET Technologies Inc. is headquartered in Toronto, Canada. “
A number of other research firms also recently commented on POETF. HC Wainwright set a $2.00 target price on POET Technologies and gave the stock a buy rating in a research report on Monday, November 19th. ValuEngine lowered POET Technologies from a buy rating to a hold rating in a report on Wednesday, January 2nd.
POETF traded up $0.01 on Friday, hitting $0.24. 268,555 shares of the company were exchanged, compared to its average volume of 67,394. POET Technologies has a 12 month low of $0.16 and a 12 month high of $0.61. The firm has a market cap of $65.16 million, a price-to-earnings ratio of -4.80 and a beta of 0.70.
POET Technologies (OTCMKTS:POETF) last announced its quarterly earnings data on Wednesday, November 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). POET Technologies had a negative net margin of 510.43% and a negative return on equity of 58.80%. The company had revenue of $0.91 million for the quarter, compared to analysts’ expectations of $1.00 million. On average, equities research analysts anticipate that POET Technologies will post -0.06 EPS for the current fiscal year.
About POET Technologies
POET Technologies Inc designs, manufactures, and sells semi-conductor products in the United States, Canada, and Singapore. It offers optical light source products and photonic integrated devices for the sensing, data and tele communications, medical, instrumentation, industrial, defense, and security markets.
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