POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of unusually large options trading on Wednesday. Stock traders bought 97,539 call options on the stock. This is an increase of 91% compared to the average daily volume of 50,961 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Northland Securities set a $8.00 price objective on shares of POET Technologies in a report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, POET Technologies presently has an average rating of “Sell” and an average target price of $8.00.

POET Technologies Trading Up 13.3%

Shares of POET stock traded up $0.95 during mid-day trading on Wednesday, reaching $8.09. The stock had a trading volume of 12,382,841 shares, compared to its average volume of 7,285,053. The business has a 50-day simple moving average of $5.98 and a 200 day simple moving average of $6.06. POET Technologies has a 12-month low of $3.09 and a 12-month high of $9.41. The company has a market cap of $1.07 billion, a P/E ratio of -11.24 and a beta of 0.31.

POET Technologies (NASDAQ:POET) last released its earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.55 million. Research analysts anticipate that POET Technologies will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in POET Technologies in the 2nd quarter worth approximately $855,000. MMCAP International Inc. SPC raised its stake in POET Technologies by 2,198.7% during the 2nd quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company’s stock valued at $30,710,000 after purchasing an additional 5,637,964 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of POET Technologies by 8.0% in the third quarter. Aptus Capital Advisors LLC now owns 105,709 shares of the company’s stock valued at $586,000 after purchasing an additional 7,800 shares in the last quarter. Woodstock Corp purchased a new stake in shares of POET Technologies in the fourth quarter valued at $430,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of POET Technologies in the fourth quarter worth $76,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

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.