POET Technologies (NASDAQ:POET) Stock Price Up 9.1% – Should You Buy?

POET Technologies Inc. (NASDAQ:POET)’s share price rose 9.1% during trading on Monday . The company traded as high as $12.91 and last traded at $13.4120. Approximately 5,568,427 shares changed hands during trading, a decline of 78% from the average daily volume of 25,114,844 shares. The stock had previously closed at $12.29.

Wall Street Analyst Weigh In

POET has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of POET Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Stock Performance

The stock has a market capitalization of $2.15 billion, a P/E ratio of -19.66 and a beta of 0.75. The company’s fifty day simple moving average is $9.62 and its two-hundred day simple moving average is $7.45.

POET Technologies (NASDAQ:POET) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. On average, research analysts predict that POET Technologies Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec increased its holdings in shares of POET Technologies by 33.6% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock worth $3,910,000 after purchasing an additional 155,428 shares during the period. Private Advisor Group LLC bought a new position in shares of POET Technologies during the fourth quarter worth approximately $2,707,000. Raymond James Financial Inc. increased its holdings in shares of POET Technologies by 75.1% during the third quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock worth $2,290,000 after purchasing an additional 177,341 shares during the period. Royal Bank of Canada increased its holdings in shares of POET Technologies by 46.8% during the first quarter. Royal Bank of Canada now owns 182,682 shares of the company’s stock worth $1,085,000 after purchasing an additional 58,214 shares during the period. Finally, Jump Financial LLC bought a new position in shares of POET Technologies during the second quarter worth approximately $619,000. 1.99% of the stock is 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.