POET Technologies (NASDAQ:POET) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of POET Technologies (NASDAQ:POET) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell” and a consensus target price of $8.00.

POET Technologies Stock Performance

Shares of POET opened at $6.11 on Friday. POET Technologies has a 52 week low of $3.09 and a 52 week high of $9.41. The firm has a market cap of $806.64 million, a P/E ratio of -10.91 and a beta of 0.36. The firm’s 50-day simple moving average is $6.11 and its 200 day simple moving average is $6.34.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.40 million. POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%. As a group, equities analysts forecast that POET Technologies will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On POET Technologies

Hedge funds have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec raised its stake in POET Technologies by 33.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock worth $3,910,000 after purchasing an additional 155,428 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of POET Technologies during the 4th quarter worth approximately $2,707,000. Raymond James Financial Inc. grew its position in shares of POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock worth $2,290,000 after purchasing an additional 177,341 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of POET Technologies by 55.1% during the fourth quarter. Royal Bank of Canada now owns 124,468 shares of the company’s stock worth $788,000 after purchasing an additional 44,205 shares during the period. Finally, Jump Financial LLC bought a new position in shares of POET Technologies during the second quarter worth approximately $619,000. 1.99% of the stock is owned by institutional investors.

About POET Technologies

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.