POET Technologies (NASDAQ:POET) Trading Down 10.2% – Here’s Why

POET Technologies Inc. (NASDAQ:POETGet Free Report)’s stock price was down 10.2% during mid-day trading on Thursday . The company traded as low as $13.78 and last traded at $13.8070. Approximately 6,128,994 shares traded hands during trading, a decline of 76% from the average daily volume of 25,738,936 shares. The stock had previously closed at $15.38.

Trending Headlines about POET Technologies

Here are the key news stories impacting POET Technologies this week:

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on POET Technologies

POET Technologies Stock Performance

The company has a market capitalization of $2.22 billion, a PE ratio of -20.02 and a beta of 0.75. The company’s 50-day simple moving average is $10.12 and its 200-day simple moving average is $7.64.

POET Technologies (NASDAQ:POETGet Free Report) last issued 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). POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%.The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.25 million. Analysts expect that POET Technologies Inc. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in POET Technologies during the 3rd quarter worth $25,000. New Millennium Group LLC acquired a new stake in shares of POET Technologies in the 3rd quarter worth $27,000. Quarry LP acquired a new stake in shares of POET Technologies in the 4th quarter worth $29,000. SBI Securities Co. Ltd. lifted its stake in shares of POET Technologies by 95.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock worth $47,000 after acquiring an additional 4,142 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of POET Technologies in the 3rd quarter worth $55,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

POET Technologies Company Profile

(Get Free Report)

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.

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