POET Technologies (NASDAQ:POET) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

POET Technologies (NASDAQ:POET) posted its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Zacks reports. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $0.40 million. POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%.

POET Technologies Stock Down 2.5%

POET stock traded down $0.15 during midday trading on Wednesday, hitting $5.79. The company’s stock had a trading volume of 5,069,975 shares, compared to its average volume of 9,088,487. The firm has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $6.33. The firm has a market capitalization of $764.53 million, a P/E ratio of -8.04 and a beta of 0.36. POET Technologies has a 52-week low of $3.09 and a 52-week high of $9.41.

Wall Street Analyst Weigh In

POET has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, January 22nd. Northland Securities set a $8.00 target price on POET Technologies in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $8.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in POET Technologies during the 3rd quarter worth $25,000. Quarry LP purchased a new position in shares of POET Technologies in the 4th quarter valued at about $29,000. Moneta Group Investment Advisors LLC boosted its stake in shares of POET Technologies by 31.8% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 23,533 shares of the company’s stock valued at $130,000 after buying an additional 5,681 shares during the period. Osaic Holdings Inc. grew its position in shares of POET Technologies by 22.3% during the second quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock worth $181,000 after buying an additional 6,340 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of POET Technologies by 7.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 113,709 shares of the company’s stock worth $720,000 after buying an additional 8,000 shares in the last quarter. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

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.