POET Technologies Target of Unusually High Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading activity on Monday. Stock traders purchased 58,400 call options on the stock. This is an increase of 72% compared to the typical daily volume of 33,880 call options.

Hedge Funds Weigh In On POET Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MMCAP International Inc. SPC increased its position in shares of POET Technologies by 2,198.7% during the second quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company’s stock worth $30,710,000 after acquiring an additional 5,637,964 shares during the last quarter. Private Advisor Group LLC acquired a new stake in POET Technologies during the 4th quarter valued at approximately $2,707,000. Raymond James Financial Inc. grew its stake in POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company’s stock valued at $2,290,000 after purchasing an additional 177,341 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in POET Technologies during the 2nd quarter worth approximately $855,000. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of POET Technologies by 33.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company’s stock valued at $3,910,000 after purchasing an additional 155,428 shares in the last quarter. 1.99% of the stock is owned by hedge funds and other institutional investors.

POET Technologies Stock Up 1.9%

POET opened at $7.04 on Wednesday. The firm has a market capitalization of $929.42 million, a P/E ratio of -9.78 and a beta of 0.36. The firm’s 50 day moving average is $6.59 and its 200-day moving average is $6.19. POET Technologies has a 52-week low of $3.09 and a 52-week high of $9.41.

Wall Street Analyst Weigh In

POET has been the subject of several research reports. Northland Securities set a $8.00 price objective on shares of POET Technologies in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, POET Technologies currently has an average rating of “Sell” and an average price target of $8.00.

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.