Fund Resources Investment Holding Group Co Ltd Makes New $5.82 Million Investment in POET Technologies Inc. $POET

Fund Resources Investment Holding Group Co Ltd purchased a new position in shares of POET Technologies Inc. (NASDAQ:POET) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 777,831 shares of the company’s stock, valued at approximately $5,818,000. POET Technologies accounts for approximately 1.6% of Fund Resources Investment Holding Group Co Ltd’s portfolio, making the stock its 6th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in POET Technologies by 33.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,189 shares of the company’s stock valued at $129,000 after acquiring an additional 4,267 shares during the period. Vise Technologies Inc. bought a new position in POET Technologies during the third quarter worth about $76,000. SBI Securities Co. Ltd. increased its stake in shares of POET Technologies by 14.0% in 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 in the last quarter. Hidden Cove Wealth Management LLC purchased a new position in shares of POET Technologies in the third quarter worth about $78,000. Finally, Signal Advisors Wealth LLC bought a new stake in shares of POET Technologies in the third quarter valued at approximately $129,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen cut shares of POET Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Thursday, October 15th. 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 a consensus target price of $8.00.

POET Technologies Price Performance

Shares of POET traded up $0.81 during midday trading on Friday, hitting $5.07. 9,768,982 shares of the company traded hands, compared to its average volume of 8,410,136. POET Technologies Inc. has a one year low of $3.87 and a one year high of $20.81. The firm has a market cap of $877.31 million, a P/E ratio of -8.74 and a beta of 0.91. The stock has a 50-day moving average of $6.76 and a 200-day moving average of $8.19.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). POET Technologies had a negative net margin of 4,423.13% and a negative return on equity of 11.65%. The company had revenue of $0.57 million during the quarter, compared to analysts’ expectations of $0.50 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. Sell-side analysts forecast that POET Technologies Inc. will post -0.28 EPS for the current fiscal year.

About POET Technologies

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.