POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of unusually large options trading activity on Friday. Traders bought 192,084 call options on the company. This is an increase of approximately 54% compared to the typical volume of 124,644 call options.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds have recently made changes to their positions in POET. Advisory Services Network LLC bought a new stake in POET Technologies in the third quarter valued at approximately $25,000. Quarry LP bought a new position in POET Technologies during the 4th quarter worth approximately $29,000. Albion Financial Group UT raised its holdings in POET Technologies by 233.3% during the 4th quarter. Albion Financial Group UT now owns 10,000 shares of the company’s stock worth $63,000 after purchasing an additional 7,000 shares during the last quarter. Shelton Wealth Management LLC acquired a new position in shares of POET Technologies in the 1st quarter worth approximately $59,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of POET Technologies in the 1st quarter worth approximately $59,000. 1.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

POET Technologies Stock Performance

Shares of NASDAQ:POET opened at $9.44 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of -13.11 and a beta of 0.75. The firm’s fifty day moving average is $12.06 and its 200-day moving average is $8.45. POET Technologies has a 52 week low of $3.87 and a 52 week high of $20.81.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. Sell-side analysts forecast that POET Technologies will post -0.24 EPS for the current year.

Trending Headlines about POET Technologies

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

• Positive Sentiment: POET saw unusually heavy call option trading, with 192,084 call contracts bought, about 54% above the average daily volume, suggesting some traders are betting on a rebound or sharp upside move.
• Neutral Sentiment: A 247wallst article argued POET has significant upside potential if its AI optical interconnect business scales, which may help support longer-term bullish sentiment. Price Prediction: Poet Technologies Has 117% Upside as AI Optical Interconnect Scales
• Negative Sentiment: Several law firms issued reminders about an active securities class action and an upcoming lead-plaintiff deadline, increasing legal overhang and adding near-term risk for investors.
• Negative Sentiment: The repeated lawsuit notices may also signal that litigation-related headlines could continue to dominate trading in the near term, potentially keeping pressure on POET shares.

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.