POET Technologies (NASDAQ:POET) Trading 8.1% Higher – Time to Buy?

Shares of POET Technologies Inc. (NASDAQ:POET) traded up 8.1% during trading on Monday . The stock traded as high as $8.45 and last traded at $8.43. 4,293,951 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 21,306,025 shares. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

A number of analysts have issued reports on POET shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a report on Friday, July 17th. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Down 2.9%

The business’s fifty day moving average is $7.90 and its two-hundred day moving average is $9.12. The stock has a market capitalization of $1.25 billion, a PE ratio of -14.09 and a beta of 0.83.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 11.65%. The business had revenue of $0.57 million during the quarter, compared to analyst estimates of $0.50 million. During the same quarter last year, the business earned ($0.21) earnings per share. Sell-side analysts expect that POET Technologies Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of POET Technologies by 46.8% in the 1st quarter. Royal Bank of Canada now owns 182,682 shares of the company’s stock valued at $1,085,000 after purchasing an additional 58,214 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in POET Technologies during the 1st quarter valued at $598,000. Headlands Technologies LLC lifted its position in POET Technologies by 53.1% in the second quarter. Headlands Technologies LLC now owns 56,776 shares of the company’s stock worth $584,000 after buying an additional 19,692 shares during the last quarter. SummitTX Capital L.P. bought a new stake in POET Technologies in the first quarter worth $452,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in POET Technologies by 3,806.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 56,408 shares of the company’s stock worth $357,000 after buying an additional 54,964 shares during the period. 1.99% of the stock is owned by institutional investors.

About POET Technologies

POET Technologies, Inc is a technology company that develops photonic integrated circuits, optical engines and related semiconductor components for high-speed communications. Its products are designed to convert and transmit data using light, supporting applications in data centers, telecommunications networks, artificial intelligence infrastructure and high-performance computing.

The company’s technology is based on its Optical Interposer platform, which integrates electronic and photonic components into compact, scalable modules.