Investors Buy Large Volume of Call Options on POET Technologies (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading on Friday. Stock investors purchased 192,084 call options on the company. This represents an increase of 54% compared to the typical daily volume of 124,644 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, POET Technologies has an average rating of “Sell” and an average price target of $8.00.

POET Technologies Trading Down 5.6%

NASDAQ:POET traded down $0.56 during trading hours on Friday, hitting $9.56. 11,139,107 shares of the stock traded hands, compared to its average volume of 26,151,125. The firm has a 50 day moving average price of $12.01 and a 200 day moving average price of $8.45. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -13.21 and a beta of 0.75. POET Technologies has a fifty-two week low of $3.87 and a fifty-two week high of $20.81.

POET Technologies (NASDAQ:POET) last issued its earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative return on equity of 27.24% and a negative net margin of 5,786.60%. Research analysts predict that POET Technologies will post -0.24 EPS for the current year.

Hedge Funds Weigh In On POET Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC acquired a new stake in shares of POET Technologies during the fourth quarter worth approximately $421,000. Caitong International Asset Management Co. Ltd grew its position in POET Technologies by 3,806.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 56,408 shares of the company’s stock valued at $357,000 after purchasing an additional 54,964 shares in the last quarter. Capital Financial Group Inc. Co. ADV acquired a new position in POET Technologies in the 4th quarter valued at approximately $73,000. Coldstream Capital Management Inc. increased its stake in POET Technologies by 34.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock valued at $85,000 after buying an additional 3,473 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in POET Technologies in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.