POET Technologies (NASDAQ:POET) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of POET Technologies (NASDAQ:POET) from a hold rating to a sell rating in a research note published on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

POET Technologies Stock Up 1.3%

Shares of POET Technologies stock traded up $0.07 on Friday, hitting $5.39. 10,704,533 shares of the company’s stock traded hands, compared to its average volume of 3,716,452. POET Technologies has a 52-week low of $3.09 and a 52-week high of $9.41. The stock has a market cap of $489.00 million, a P/E ratio of -6.65 and a beta of 0.37. The firm’s 50-day moving average is $6.39 and its 200 day moving average is $5.50.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). POET Technologies had a negative return on equity of 141.43% and a negative net margin of 11,497.01%.The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.39 million. Equities research analysts forecast that POET Technologies will post -0.45 EPS for the current year.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of POET. Strengthening Families & Communities LLC acquired a new stake in shares of POET Technologies during the 1st quarter worth approximately $26,000. CoreCap Advisors LLC grew its stake in POET Technologies by 1,967.2% during the 3rd quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock worth $29,000 after buying an additional 4,918 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in POET Technologies in the first quarter worth $47,000. SBI Securities Co. Ltd. lifted its stake in POET Technologies by 95.3% in the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock valued at $47,000 after buying an additional 4,142 shares during the last quarter. Finally, HBW Advisory Services LLC acquired a new position in shares of POET Technologies during the third quarter valued at $57,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.