POET Technologies (NASDAQ:POET) Stock Rating Lowered by Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a report on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, POET Technologies presently has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Trading Up 19.0%

POET Technologies stock opened at $5.07 on Friday. The firm’s 50-day simple moving average is $6.76 and its 200 day simple moving average is $8.19. POET Technologies has a 52 week low of $3.87 and a 52 week high of $20.81.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $0.57 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($0.21) EPS. As a group, sell-side analysts predict that POET Technologies will post -0.28 EPS for the current fiscal year.

Institutional Trading of POET Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Fund Resources Investment Holding Group Co Ltd purchased a new position in POET Technologies in the 3rd quarter worth about $5,818,000. Royal Bank of Canada raised its stake in shares of POET Technologies by 46.8% in the 1st quarter. Royal Bank of Canada now owns 182,682 shares of the company’s stock valued at $1,085,000 after acquiring an additional 58,214 shares during the period. SummitTX Capital L.P. bought a new position in POET Technologies during the 1st quarter valued at $452,000. Headlands Technologies LLC lifted its holdings in shares of POET Technologies by 53.1% during the second quarter. Headlands Technologies LLC now owns 56,776 shares of the company’s stock valued at $584,000 after acquiring an additional 19,692 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in POET Technologies by 14.0% during the third quarter. SBI Securities Co. Ltd. now owns 47,874 shares of the company’s stock worth $358,000 after purchasing an additional 5,897 shares during the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Company Profile

POET Technologies Inc (NASDAQ:POET) is a semiconductor and photonics company that develops optical components and integrated solutions for high-speed communications. Its technologies are designed to support applications in data centers, artificial intelligence and machine learning infrastructure, telecommunications, and other markets that require high-bandwidth, energy-efficient data transmission.

The company’s portfolio is centered on the POET Optical Interposer, a platform that integrates optical and electronic components into compact, scalable modules.