Cedar Wealth Management LLC Takes Position in POET Technologies Inc. $POET

Cedar Wealth Management LLC purchased a new position in shares of POET Technologies Inc. (NASDAQ:POET) in the fourth quarter, Holdings Channel.com reports. The fund purchased 66,555 shares of the company’s stock, valued at approximately $421,000.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in POET Technologies in the third quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in POET Technologies during the third quarter worth $27,000. SBI Securities Co. Ltd. raised its position 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 purchasing an additional 4,142 shares during the period. Coldstream Capital Management Inc. purchased a new stake in POET Technologies in the third quarter valued at $55,000. Finally, Albion Financial Group UT lifted its stake in shares of POET Technologies by 233.3% in the 4th quarter. Albion Financial Group UT now owns 10,000 shares of the company’s stock valued at $63,000 after purchasing an additional 7,000 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Down 11.0%

Shares of NASDAQ POET opened at $14.21 on Tuesday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -19.74 and a beta of 0.53. POET Technologies Inc. has a 52-week low of $3.87 and a 52-week high of $20.81. The business’s 50 day moving average is $8.36 and its two-hundred day moving average is $6.95.

POET Technologies (NASDAQ:POET) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). POET Technologies had a negative return on equity of 51.03% and a negative net margin of 5,786.60%.The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.25 million. Analysts anticipate that POET Technologies Inc. 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.