POET Technologies (NASDAQ:POET) Trading Down 5.9% – Should You Sell?

POET Technologies Inc. (NASDAQ:POET)’s stock price fell 5.9% during trading on Tuesday . The stock traded as low as $6.62 and last traded at $6.5050. 3,949,837 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 9,064,233 shares. The stock had previously closed at $6.91.

Wall Street Analyst Weigh In

Several research firms recently issued reports on POET. Northland Securities set a $8.00 price target on shares of POET Technologies in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, POET Technologies has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Price Performance

The company has a market capitalization of $815.88 million, a price-to-earnings ratio of -8.58 and a beta of 0.36. The firm’s fifty day moving average price is $6.57 and its 200-day moving average price is $6.30.

Hedge Funds Weigh In On POET Technologies

Large investors have recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec increased its stake in shares of POET Technologies by 33.6% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock valued at $3,910,000 after buying an additional 155,428 shares during the period. Private Advisor Group LLC acquired a new stake in POET Technologies during the 4th quarter worth approximately $2,707,000. Raymond James Financial Inc. grew its holdings in POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock worth $2,290,000 after acquiring an additional 177,341 shares during the last quarter. Quadrature Capital Ltd bought a new stake in POET Technologies during the 2nd quarter worth approximately $855,000. Finally, Royal Bank of Canada increased its position in POET Technologies by 55.1% in the 4th quarter. Royal Bank of Canada now owns 124,468 shares of the company’s stock valued at $788,000 after acquiring an additional 44,205 shares during the period. 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.