POET Technologies Inc. (NASDAQ:POET) Short Interest Up 109.1% in May

POET Technologies Inc. (NASDAQ:POET) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 30,606,745 shares, a growth of 109.1% from the April 30th total of 14,636,750 shares. Currently, 20.0% of the shares of the company are sold short. Based on an average daily trading volume, of 69,175,918 shares, the days-to-cover ratio is presently 0.4 days.

POET Technologies News Summary

Here are the key news stories impacting POET Technologies this week:

• Neutral Sentiment: Several firms issued deadline reminders and lead-plaintiff notices related to the existing securities class action, keeping the litigation overhang in the news. Article Title
• Neutral Sentiment: Yahoo Finance highlighted how POET’s Lumilens pact, capacity expansion, and U.S. move have changed its investment story, but this was more of a background framing piece than a fresh operational update. Article Title
• Negative Sentiment: The repeated class-action alerts and fraud allegations likely weigh on investor confidence and may keep pressure on the stock until the legal process becomes clearer. Article Title

Institutional Trading of POET Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of POET Technologies in the 3rd quarter worth $25,000. New Millennium Group LLC bought a new position in shares of POET Technologies in the 3rd quarter worth $27,000. Quarry LP bought a new position in shares of POET Technologies in the 4th quarter worth $29,000. SBI Securities Co. Ltd. increased its holdings 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 worth $47,000 after buying an additional 4,142 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of POET Technologies in the 3rd quarter worth $55,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently 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 reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Price Performance

NASDAQ POET opened at $13.82 on Wednesday. POET Technologies has a 1 year low of $3.87 and a 1 year high of $20.81. The stock has a market capitalization of $2.12 billion, a PE ratio of -19.19 and a beta of 0.75. The company’s 50 day simple moving average is $9.77 and its two-hundred day simple moving average is $7.51.

POET Technologies (NASDAQ:POET) last posted its earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). POET Technologies had a negative return on equity of 27.24% 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. On average, research analysts anticipate that POET Technologies will post -0.21 EPS for the current year.

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.