POET Technologies (NASDAQ:POET) Rating Lowered to Sell at Wall Street Zen

POET Technologies (NASDAQ:POET) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average target price of $8.00.

POET Technologies Stock Performance

NASDAQ:POET opened at $6.11 on Friday. POET Technologies has a one year low of $3.09 and a one year high of $9.41. The firm has a market cap of $806.64 million, a price-to-earnings ratio of -10.91 and a beta of 0.36. The firm’s fifty day moving average is $6.11 and its two-hundred day moving average is $6.35.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.40 million. POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%. As a group, equities research analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in POET Technologies by 3,806.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 56,408 shares of the company’s stock valued at $357,000 after buying an additional 54,964 shares in the last quarter. Sona Asset Management US LLC purchased a new stake in shares of POET Technologies during the 4th quarter worth about $633,000. Oxford Asset Management LLP purchased a new stake in shares of POET Technologies during the 4th quarter worth about $171,000. Boothbay Fund Management LLC purchased a new stake in shares of POET Technologies during the 4th quarter worth about $93,000. Finally, Cetera Investment Advisers purchased a new stake in shares of POET Technologies during the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.