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

POET Technologies Inc. (NASDAQ:POET) shares gapped up prior to trading on Monday . The stock had previously closed at $15.97, but opened at $17.02. POET Technologies shares last traded at $14.8440, with a volume of 19,974,381 shares traded.

POET Technologies News Roundup

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

• Positive Sentiment: POET Technologies raised US$400 million, giving it more capital to expand production and pursue growth in photonic interconnect products. Article: POET Technologies Announces Closing of US$400 Million Investment
• Neutral Sentiment: Multiple law firms are notifying investors about an existing securities class action and upcoming deadline, keeping legal overhang in focus. Article: POET DEADLINE: The Gross Law Firm Reminds POET Technologies Inc. Investors of Upcoming Securities Class Action Deadline
• Negative Sentiment: Market commentary says the stock fell after the new financing sparked dilution concerns, suggesting investors are prioritizing shareholder dilution over the benefits of added capital. Article: Stock Market Today, May 19: Poet Technologies Falls After $400 Million Offering Sparks Dilution Concerns

Analysts Set New Price Targets

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

POET Technologies Trading Down 8.0%

The business has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $7.00. The stock has a market cap of $1.73 billion, a P/E ratio of -18.15 and a beta of 0.53.

POET Technologies (NASDAQ:POET) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.25 million. As a group, equities analysts expect that POET Technologies Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On POET Technologies

Several institutional investors and hedge funds have recently made changes to their positions in POET. Private Advisor Group LLC bought a new stake in shares of POET Technologies during the 4th quarter valued at about $2,707,000. Raymond James Financial Inc. boosted 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 valued at $2,290,000 after purchasing an additional 177,341 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of POET Technologies by 33.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock valued at $3,910,000 after purchasing an additional 155,428 shares in the last quarter. Jump Financial LLC bought a new stake in shares of POET Technologies during the 2nd quarter valued at about $619,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of POET Technologies during the 1st quarter valued at about $598,000. Institutional investors own 1.99% of the company’s stock.

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.