Traders Buy Large Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading activity on Friday. Traders acquired 192,084 call options on the company. This is an increase of 54% compared to the typical daily volume of 124,644 call options.

POET Technologies Trading Down 5.6%

POET Technologies stock traded down $0.56 during mid-day trading on Friday, hitting $9.56. 11,139,107 shares of the company’s stock were exchanged, compared to its average volume of 26,151,125. POET Technologies has a 1-year low of $3.87 and a 1-year high of $20.81. The stock has a 50 day moving average of $12.01 and a two-hundred day moving average of $8.45. The stock has a market cap of $1.47 billion, a P/E ratio of -13.21 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%. As a group, research analysts predict that POET Technologies will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in POET Technologies during the third quarter valued at approximately $25,000. Quarry LP bought a new position in shares of POET Technologies in the fourth quarter valued at approximately $29,000. Coldstream Capital Management Inc. acquired a new stake in shares of POET Technologies in the third quarter worth $55,000. Shelton Wealth Management LLC acquired a new stake in shares of POET Technologies in the first quarter worth $59,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of POET Technologies during the 1st quarter worth $59,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

POET has been the subject of several recent research reports. Wall Street Zen lowered POET Technologies from a “hold” rating to a “sell” rating in a report 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 MarketBeat.com, POET Technologies presently has a consensus rating of “Sell” and an average price target of $8.00.

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.