POET Technologies (NASDAQ:POET) Stock Price Down 14.3% – Should You Sell?

POET Technologies Inc. (NASDAQ:POET) shares were down 14.3% on Tuesday . The stock traded as low as $12.56 and last traded at $12.1720. Approximately 15,137,611 shares changed hands during trading, a decline of 36% from the average daily volume of 23,831,484 shares. The stock had previously closed at $14.21.

Analysts Set New Price Targets

Several brokerages have commented on POET. Wall Street Zen cut shares of POET Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, POET Technologies presently has an average rating of “Sell” and an average price target of $8.00.

POET Technologies Price Performance

The firm has a market capitalization of $1.77 billion, a PE ratio of -18.81 and a beta of 0.53. The stock’s 50-day moving average price is $8.36 and its 200 day moving average price is $6.95.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). POET Technologies had a negative return on equity of 51.03% and a negative net margin of 5,786.60%.The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.25 million. Equities research analysts forecast that POET Technologies Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POET Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in POET Technologies during the third quarter valued at $25,000. New Millennium Group LLC acquired a new stake in shares of POET Technologies during the 3rd quarter valued at about $27,000. Quarry LP acquired a new stake in shares of POET Technologies during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. increased its stake in shares of POET Technologies by 95.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock valued at $47,000 after purchasing an additional 4,142 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in POET Technologies in the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.