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

Shares of POET Technologies Inc. (NASDAQ:POET) gapped up prior to trading on Tuesday . The stock had previously closed at $7.36, but opened at $8.35. POET Technologies shares last traded at $8.3190, with a volume of 8,884,152 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell” and a consensus target price of $8.00.

POET Technologies Price Performance

The company has a market cap of $1.30 billion, a PE ratio of -11.72 and a beta of 0.81. The business’s 50 day moving average is $10.13 and its 200-day moving average is $8.69.

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). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that POET Technologies Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. grew its position in POET Technologies by 34.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock valued at $85,000 after buying an additional 3,473 shares during the last quarter. Advisory Services Network LLC purchased a new position in POET Technologies during the 3rd quarter worth $25,000. Quarry LP purchased a new position in POET Technologies during the 4th quarter worth $29,000. Moneta Group Investment Advisors LLC lifted 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 worth $130,000 after acquiring an additional 5,681 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of POET Technologies by 22.3% in the 2nd quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock worth $181,000 after acquiring an additional 6,340 shares during the period. Institutional investors and hedge funds 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.