POET Technologies (NASDAQ:POET) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of POET Technologies (NASDAQ:POET) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Up 3.7%

POET Technologies stock opened at $5.26 on Friday. The stock has a 50-day simple moving average of $6.72 and a 200 day simple moving average of $8.17. POET Technologies has a 12-month low of $3.87 and a 12-month high of $20.81.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $0.57 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.21) EPS. Sell-side analysts anticipate that POET Technologies will post -0.28 EPS for the current year.

Institutional Investors Weigh In On POET Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in POET Technologies in the first quarter valued at about $59,000. Quintet Private Bank Europe S.A. raised its holdings in POET Technologies by 220.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 8,000 shares of the company’s stock worth $60,000 after purchasing an additional 5,500 shares during the last quarter. Vise Technologies Inc. bought a new stake in POET Technologies during the 3rd quarter worth about $76,000. Hidden Cove Wealth Management LLC bought a new stake in POET Technologies during the 3rd quarter worth about $78,000. Finally, Compound Planning Inc. acquired a new position in POET Technologies during the 1st quarter valued at about $94,000. Institutional investors own 1.99% of the company’s stock.

POET Technologies Company Profile

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.