Wall Street Zen Upgrades POET Technologies (NASDAQ:POET) to “Hold”

POET Technologies (NASDAQ:POET) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, POET Technologies has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Performance

POET Technologies stock opened at $9.58 on Friday. POET Technologies has a fifty-two week low of $3.87 and a fifty-two week high of $20.81. The stock has a market cap of $1.47 billion, a P/E ratio of -16.52 and a beta of 0.81. The firm’s fifty day moving average price is $9.25 and its 200-day moving average price is $8.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in shares of POET Technologies in the 4th quarter worth about $421,000. Counterpoint Mutual Funds LLC bought a new position in shares of POET Technologies during the 1st quarter valued at about $598,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of POET Technologies by 3,806.4% during the 4th 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. SummitTX Capital L.P. bought a new stake in POET Technologies in the 1st quarter worth approximately $452,000. Finally, SBI Securities Co. Ltd. lifted its position in POET Technologies by 531.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 53,609 shares of the company’s stock worth $339,000 after buying an additional 45,122 shares during the last quarter. Institutional investors own 1.99% of the company’s stock.

About POET Technologies

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.