POET Technologies (NASDAQ:POET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of POET Technologies (NASDAQ:POET) from a sell rating to a hold rating in a report published on Saturday.

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

POET Technologies Stock Down 1.9%

NASDAQ:POET opened at $9.40 on Friday. The stock has a market cap of $1.44 billion, a P/E ratio of -16.21 and a beta of 0.81. The firm’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $8.77. POET Technologies has a twelve month low of $3.87 and a twelve month high of $20.81.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 11.65%. The business had revenue of $0.57 million during the quarter, compared to analyst estimates of $0.50 million. During the same period in the prior year, the business earned ($0.21) EPS. On average, analysts expect that POET Technologies will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Several hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in POET Technologies in the third quarter worth $25,000. Quarry LP bought a new stake in shares of POET Technologies during the 4th quarter valued at $29,000. Coldstream Capital Management Inc. bought a new stake in shares of POET Technologies during the 3rd quarter valued at $55,000. Shelton Wealth Management LLC bought a new stake in shares of POET Technologies during the 1st quarter valued at $59,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of POET Technologies in the 1st quarter worth about $59,000. 1.99% of the stock is currently owned by institutional investors.

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.