POET Technologies Inc. (NASDAQ:POET) Short Interest Update

POET Technologies Inc. (NASDAQ:POET) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 30,606,745 shares, a growth of 109.1% from the April 30th total of 14,636,750 shares. Based on an average trading volume of 69,175,918 shares, the days-to-cover ratio is presently 0.4 days. Currently, 20.0% of the company’s stock are sold short.

Key Stories Impacting POET Technologies

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

• Negative Sentiment: Multiple law firms, including Rosen, Schall, Faruqi & Faruqi, Bernstein Liebhard, Pomerantz, Gross Law Group, and others, issued reminders about pending securities fraud class actions against POET and the June 29 lead-plaintiff deadline. These notices keep litigation risk front and center for investors and can pressure the stock. Article Title
• Negative Sentiment: Bronstein, Gewirtz & Grossman and Pomerantz also highlighted the class action and urged affected shareholders to contact counsel, reinforcing concerns that the company may face ongoing legal costs, management distraction, and reputational damage. Article Title
• Neutral Sentiment: A market commentary piece said POET is on track for its best month in more than two years, but rising short interest could signal skepticism about the rally’s durability. That mix of momentum and caution may help explain the stock’s volatility. Article Title
• Neutral Sentiment: Short-interest data showed unusual activity, but the reported figures were inconsistent/zero, so the takeaway is limited. Still, it underscores that POET remains a highly watched, speculative name.

Institutional Trading of POET Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. 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 worth $1,085,000 after purchasing an additional 58,214 shares in the last quarter. SummitTX Capital L.P. acquired a new position in POET Technologies during the 1st quarter worth approximately $452,000. Compound Planning Inc. acquired a new position in POET Technologies during the 1st quarter worth approximately $94,000. Arrowstreet Capital Limited Partnership acquired a new position in POET Technologies during the 1st quarter worth approximately $118,000. Finally, PNC Financial Services Group Inc. acquired a new position in POET Technologies during the 1st quarter worth approximately $59,000. Institutional investors own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on POET. Wall Street Zen downgraded 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 report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, POET Technologies presently has an average rating of “Sell” and an average target price of $8.00.

POET Technologies Price Performance

Shares of NASDAQ POET opened at $12.29 on Monday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -17.07 and a beta of 0.75. POET Technologies has a twelve month low of $3.87 and a twelve month high of $20.81. The company’s fifty day moving average is $9.62 and its 200-day moving average is $7.45.

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

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.