Caitong International Asset Management Co. Ltd Purchases 54,964 Shares of POET Technologies Inc. $POET

Caitong International Asset Management Co. Ltd lifted its holdings in shares of POET Technologies Inc. (NASDAQ:POET) by 3,806.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,408 shares of the company’s stock after buying an additional 54,964 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in POET Technologies were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of POET. Advisory Services Network LLC bought a new position in POET Technologies in the 3rd quarter worth approximately $25,000. Quarry LP bought a new stake in POET Technologies during the 4th quarter valued at $29,000. Albion Financial Group UT raised its holdings in POET Technologies by 233.3% during the 4th quarter. Albion Financial Group UT now owns 10,000 shares of the company’s stock valued at $63,000 after acquiring an additional 7,000 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of POET Technologies during the third quarter worth $55,000. Finally, Capital Financial Group Inc. Co. ADV purchased a new stake in shares of POET Technologies during the fourth quarter worth $73,000. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

POET has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a report on Tuesday, April 21st. Wall Street Zen lowered POET Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, POET Technologies currently has a consensus rating of “Sell” and an average target price of $8.00.

POET Technologies Stock Performance

NASDAQ POET opened at $12.15 on Friday. POET Technologies Inc. has a 52-week low of $3.87 and a 52-week high of $20.81. The company has a fifty day moving average of $11.68 and a 200-day moving average of $8.28. The company has a market capitalization of $1.87 billion, a P/E ratio of -16.88 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last released its earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. As a group, analysts forecast that POET Technologies Inc. will post -0.24 EPS for the current fiscal year.

About POET Technologies

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.