POET Technologies (NASDAQ:POET) Stock Moved Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of POET Technologies (NASDAQ:POET) from a sell rating to a hold rating in a research note published on Sunday,Wall Street Zen reports.

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

POET Technologies Stock Performance

Shares of NASDAQ POET opened at $7.79 on Friday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -13.43 and a beta of 0.83. POET Technologies has a one year low of $3.87 and a one year high of $20.81. The business has a fifty day simple moving average of $7.90 and a 200 day simple moving average of $9.16.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $0.57 million for 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 previous year, the company earned ($0.21) earnings per share. On average, research analysts anticipate that POET Technologies will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of POET Technologies

Several large investors have recently made changes to their positions in POET. IPG Investment Advisors LLC bought a new stake in shares of POET Technologies during the second quarter worth $149,000. Archford Capital Strategies LLC bought a new position in shares of POET Technologies in the second quarter valued at about $103,000. TD Waterhouse Canada Inc. lifted its position in POET Technologies by 58.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,679 shares of the company’s stock worth $152,000 after buying an additional 5,807 shares in the last quarter. Teza Capital Management LLC acquired a new position in POET Technologies during the 2nd quarter worth about $349,000. Finally, Headlands Technologies LLC grew its holdings in POET Technologies by 53.1% during the 2nd quarter. Headlands Technologies LLC now owns 56,776 shares of the company’s stock worth $584,000 after acquiring an additional 19,692 shares during the last quarter. Institutional investors own 1.99% of the company’s stock.

About POET Technologies

POET Technologies Inc is a technology company that develops photonic and optoelectronic solutions for communications, data-center and artificial-intelligence applications. Its products are designed to help transmit and process data at high speeds while supporting lower power consumption and more compact system designs.

The company’s core technology is the POET Optical Interposer, a semiconductor-based platform that integrates optical and electronic components into a single package. This platform is used to develop optical engines and other solutions for fiber-optic communications, including applications involving data-center interconnects, high-performance computing and telecommunications networks.

POET Technologies works with manufacturing and industry partners to commercialize products based on its optical-interposer technology.