POET Technologies (NASDAQ:POET) Shares Gap Up – What’s Next?

POET Technologies Inc. (NASDAQ:POET)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.68, but opened at $5.39. POET Technologies shares last traded at $5.7250, with a volume of 13,056,339 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a research note on Wednesday, October 8th. Northland Securities set a $8.00 price target on POET Technologies in a report on Wednesday. Finally, Wall Street Zen raised POET Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, POET Technologies has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Down 5.0%

The business’s fifty day moving average is $6.17 and its 200-day moving average is $5.56. The stock has a market capitalization of $548.87 million, a PE ratio of -8.40 and a beta of 0.46.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%.The company had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $0.55 million. As a group, sell-side analysts anticipate that POET Technologies Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in POET Technologies during the third quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of POET Technologies during the 1st quarter worth about $26,000. New Millennium Group LLC acquired a new stake in POET Technologies during the 3rd quarter worth approximately $27,000. CoreCap Advisors LLC raised its holdings in POET Technologies by 1,967.2% in the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after buying an additional 4,918 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings 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 period. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Company Profile

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.