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

POET Technologies Inc. (NASDAQ:POET) was the recipient of some unusual options trading on Tuesday. Stock investors bought 50,969 call options on the stock. This represents an increase of approximately 69% compared to the average daily volume of 30,248 call options.

POET Technologies Price Performance

POET Technologies stock traded up $0.86 during mid-day trading on Tuesday, reaching $5.94. 12,583,543 shares of the company traded hands, compared to its average volume of 9,145,943. The firm’s fifty day moving average is $6.24 and its two-hundred day moving average is $6.33. The company has a market capitalization of $784.20 million, a price-to-earnings ratio of -8.25 and a beta of 0.36. POET Technologies has a fifty-two week low of $3.09 and a fifty-two week high of $9.41.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On POET Technologies

Hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in POET Technologies during the 2nd quarter worth about $855,000. Aptus Capital Advisors LLC increased its holdings in shares of POET Technologies by 8.0% in the third quarter. Aptus Capital Advisors LLC now owns 105,709 shares of the company’s stock valued at $586,000 after purchasing an additional 7,800 shares during the period. NewGen Asset Management Ltd purchased a new position in shares of POET Technologies in the third quarter worth about $105,000. New Millennium Group LLC purchased a new position in shares of POET Technologies in the third quarter worth about $27,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of POET Technologies by 95.3% during the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock worth $47,000 after purchasing an additional 4,142 shares during the period. 1.99% of the stock is owned by institutional investors and hedge funds.

About POET Technologies

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.