100,591 Shares in POET Technologies Inc. $POET Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new stake in POET Technologies Inc. (NASDAQ:POET) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 100,591 shares of the company’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of POET Technologies in the 3rd quarter valued at $25,000. Quarry LP purchased a new stake in shares of POET Technologies during the 4th quarter valued at $29,000. Albion Financial Group UT increased its holdings in shares of POET Technologies by 233.3% during the 4th quarter. Albion Financial Group UT now owns 10,000 shares of the company’s stock worth $63,000 after buying an additional 7,000 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of POET Technologies during the 3rd quarter worth $55,000. Finally, Capital Financial Group Inc. Co. ADV purchased a new position in shares of POET Technologies in the 4th quarter worth $73,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

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

POET Technologies Stock Performance

NASDAQ POET opened at $8.76 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -12.17 and a beta of 0.75. POET Technologies Inc. has a one year low of $3.87 and a one year high of $20.81. The company’s 50 day moving average price is $12.08 and its 200 day moving average price is $8.55.

POET Technologies (NASDAQ:POET) last released 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. Sell-side analysts forecast that POET Technologies Inc. will post -0.24 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.