POET Technologies (NASDAQ:POET) Shares Down 8.2% – Time to Sell?

POET Technologies Inc. (NASDAQ:POET) traded down 8.2% during mid-day trading on Friday . The stock traded as low as $7.49 and last traded at $7.52. Approximately 6,411,518 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 22,510,285 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised POET Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell” and an average target price of $8.00.

POET Technologies Trading Down 8.4%

The firm’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.91. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -12.93 and a beta of 0.81.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $0.57 million for the quarter, compared to analyst estimates of $0.50 million. POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 11.65%. During the same period last year, the business earned ($0.21) EPS. As a group, sell-side analysts expect that POET Technologies Inc. will post -0.24 EPS for the current year.

Institutional Trading of POET Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its stake in POET Technologies by 34.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock valued at $85,000 after buying an additional 3,473 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of POET Technologies during the 3rd quarter worth about $25,000. Quarry LP purchased a new position in shares of POET Technologies in the 4th quarter valued at about $29,000. Moneta Group Investment Advisors LLC increased its holdings in shares of POET Technologies by 31.8% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 23,533 shares of the company’s stock valued at $130,000 after acquiring an additional 5,681 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of POET Technologies by 58.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,679 shares of the company’s stock valued at $152,000 after acquiring an additional 5,807 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.