Wall Street Zen Downgrades POET Technologies (NASDAQ:POET) to Sell

POET Technologies (NASDAQ:POET) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, 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.com, POET Technologies has a consensus rating of “Sell” and an average target price of $8.00.

POET Technologies Price Performance

Shares of POET Technologies stock opened at $7.77 on Friday. POET Technologies has a 52-week low of $3.87 and a 52-week high of $20.81. The company’s 50-day simple moving average is $7.90 and its 200-day simple moving average is $9.15. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -13.40 and a beta of 0.83.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $0.57 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted ($0.21) earnings per share. Equities research analysts anticipate that POET Technologies will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IPG Investment Advisors LLC acquired a new position in POET Technologies in the 2nd quarter valued at about $149,000. Archford Capital Strategies LLC purchased a new stake in shares of POET Technologies in the second quarter valued at $103,000. TD Waterhouse Canada Inc. grew its holdings in 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 buying an additional 5,807 shares during the period. Teza Capital Management LLC purchased a new stake in POET Technologies in the 2nd quarter valued at about $349,000. Finally, Headlands Technologies LLC boosted its position in shares of POET Technologies by 53.1% in the second 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. 1.99% of the stock is currently owned by institutional investors and hedge funds.

About POET Technologies

POET Technologies, Inc is a technology company that develops photonic integrated circuits, optical engines and related semiconductor components for high-speed communications. Its products are designed to convert and transmit data using light, supporting applications in data centers, telecommunications networks, artificial intelligence infrastructure and high-performance computing.

The company’s technology is based on its Optical Interposer platform, which integrates electronic and photonic components into compact, scalable modules.