POET Technologies (NASDAQ:POET) Trading Down 3.7% – What’s Next?

POET Technologies Inc. (NASDAQ:POET) shares were down 3.7% during mid-day trading on Tuesday . The stock traded as low as $8.08 and last traded at $8.0950. Approximately 1,735,935 shares changed hands during trading, a decline of 92% from the average session volume of 21,241,141 shares. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen raised POET Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, POET Technologies presently has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Stock Performance

The company’s 50-day moving average price is $7.91 and its 200 day moving average price is $9.11. The stock has a market capitalization of $1.24 billion, a PE ratio of -13.94 and a beta of 0.83.

POET Technologies (NASDAQ:POET) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $0.50 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. Analysts expect that POET Technologies Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SummitTX Capital L.P. purchased a new stake in shares of POET Technologies in the 1st quarter worth approximately $452,000. Counterpoint Mutual Funds LLC purchased a new position in POET Technologies during the first quarter valued at $598,000. Caitong International Asset Management Co. Ltd raised its stake 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 buying an additional 54,964 shares during the last quarter. Teza Capital Management LLC bought a new stake in POET Technologies in the second quarter worth $349,000. Finally, Headlands Technologies LLC boosted its holdings in 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 in the last quarter. 1.99% of the stock is owned by hedge funds and other institutional investors.

POET Technologies Company Profile

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.