POET Technologies (NASDAQ:POET) Raised to Hold at Wall Street Zen

POET Technologies (NASDAQ:POET) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

POET Technologies Price Performance

POET opened at $4.40 on Friday. The firm has a market capitalization of $399.18 million, a PE ratio of -5.43 and a beta of 0.37. POET Technologies has a fifty-two week low of $3.09 and a fifty-two week high of $9.41. The company’s 50-day moving average is $6.35 and its 200 day moving average is $5.53.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.55 million. POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. As a group, analysts expect that POET Technologies will post -0.45 EPS for the current year.

Institutional Trading of POET Technologies

A number of hedge funds have recently modified their holdings of POET. New Millennium Group LLC purchased a new stake in POET Technologies in the 3rd quarter worth $27,000. CoreCap Advisors LLC boosted its position in shares of POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after buying an additional 4,918 shares during the period. Strengthening Families & Communities LLC bought a new stake in shares of POET Technologies during the first quarter worth $26,000. SBI Securities Co. Ltd. grew its stake in POET Technologies by 95.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock worth $47,000 after acquiring an additional 4,142 shares in the last quarter. Finally, HBW Advisory Services LLC bought a new stake in POET Technologies during the 3rd quarter valued at $57,000. Institutional investors own 1.99% of the company’s stock.

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.