POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) saw some unusual options trading activity on Tuesday. Stock investors purchased 50,969 call options on the stock. This is an increase of 69% compared to the typical daily volume of 30,248 call options.

Analyst Ratings Changes

A number of research firms have weighed in on POET. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a report on Thursday, January 22nd. Northland Securities set a $8.00 price target on POET Technologies in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $8.00.

POET Technologies Trading Down 5.7%

NASDAQ POET opened at $5.60 on Thursday. The firm’s fifty day simple moving average is $6.14 and its two-hundred day simple moving average is $6.33. POET Technologies has a 12-month low of $3.09 and a 12-month high of $9.41. The firm has a market capitalization of $739.31 million, a P/E ratio of -10.00 and a beta of 0.36.

POET Technologies (NASDAQ:POET) last announced its earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). POET Technologies had a negative net margin of 6,625.16% and a negative return on equity of 103.46%. The business had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.40 million. As a group, sell-side analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of POET Technologies during the second quarter worth $855,000. Woodstock Corp acquired a new position in shares of POET Technologies in the 4th quarter valued at $430,000. Aptus Capital Advisors LLC increased its position in shares of POET Technologies by 8.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 105,709 shares of the company’s stock valued at $586,000 after acquiring an additional 7,800 shares during the period. NewGen Asset Management Ltd purchased a new position in POET Technologies in the 3rd quarter worth $105,000. Finally, New Millennium Group LLC purchased a new position in POET Technologies in the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Company Profile

POET Technologies Inc is a Canadian fabless semiconductor company focused on the development and commercialization of integrated silicon photonics platforms. Leveraging proprietary POET Optical Interposer™ technology, the company designs and manufactures optical input/output (I/O) solutions that enable high-bandwidth, low-power data transmission between electronic chips and fiber-optic networks. By integrating optical waveguides, lasers, detectors and electronic drivers onto a single chip, POET aims to address the growing demand for faster, more energy-efficient data connectivity in telecommunications, data centers and high-performance computing applications.

The company’s core products include silicon photonics interposer arrays, active optical cables and optical transceiver modules.