POET Technologies (NASDAQ:POET) Trading Down 14.3% – Time to Sell?

POET Technologies Inc. (NASDAQ:POET)’s share price was down 14.3% during trading on Tuesday . The company traded as low as $12.56 and last traded at $12.1720. Approximately 15,137,611 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 23,831,484 shares. The stock had previously closed at $14.21.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on POET. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of POET Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $8.00.

POET Technologies Price Performance

The stock has a 50 day moving average price of $8.36 and a 200-day moving average price of $6.95. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -18.81 and a beta of 0.53.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data 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 firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative return on equity of 51.03% and a negative net margin of 5,786.60%. As a group, research analysts forecast that POET Technologies Inc. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On POET Technologies

A number of institutional investors have recently modified their holdings of POET. Jump Financial LLC purchased a new position in POET Technologies during the 2nd quarter worth $619,000. Raymond James Financial Inc. raised its stake in POET Technologies by 253.1% during the 2nd quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock valued at $1,230,000 after acquiring an additional 169,158 shares during the last quarter. Osaic Holdings Inc. lifted its position in POET Technologies by 22.3% during the 2nd quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock worth $181,000 after acquiring an additional 6,340 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of POET Technologies by 563.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 41,678 shares of the company’s stock valued at $248,000 after purchasing an additional 35,400 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of 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 purchasing an additional 4,142 shares during the period. 1.99% of the stock is owned by institutional investors and hedge funds.

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.