POET Technologies Inc. (NASDAQ:POET – Get Free Report) saw unusually large options trading on Thursday. Traders purchased 15,782 call options on the stock. This is an increase of 340% compared to the average volume of 3,589 call options.
Institutional Investors Weigh In On POET Technologies
Hedge funds have recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC purchased a new stake in POET Technologies during the 1st quarter valued at $26,000. Sentry LLC purchased a new stake in POET Technologies during the 1st quarter valued at $38,000. Baader Bank Aktiengesellschaft purchased a new stake in POET Technologies during the 1st quarter valued at $47,000. Polymer Capital Management US LLC purchased a new stake in POET Technologies during the 4th quarter valued at $77,000. Finally, JPMorgan Chase & Co. purchased a new stake in POET Technologies during the 4th quarter valued at $94,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.
POET Technologies Stock Performance
POET Technologies stock opened at $5.22 on Friday. The stock’s 50 day simple moving average is $4.32 and its two-hundred day simple moving average is $4.48. The stock has a market cap of $442.71 million, a price-to-earnings ratio of -7.05 and a beta of 0.25. POET Technologies has a fifty-two week low of $1.83 and a fifty-two week high of $7.79.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised POET Technologies from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd.
Read Our Latest Analysis on POET Technologies
About POET Technologies
POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.
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