Counterpoint Mutual Funds LLC Buys Shares of 100,591 POET Technologies Inc. $POET

Counterpoint Mutual Funds LLC purchased a new position in shares of POET Technologies Inc. (NASDAQ:POET) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,591 shares of the company’s stock, valued at approximately $598,000. Counterpoint Mutual Funds LLC owned approximately 0.08% of POET Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in POET. Jump Financial LLC purchased a new stake in shares of POET Technologies in the second quarter valued at $619,000. Raymond James Financial Inc. increased its position in POET Technologies by 253.1% during the 2nd quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock worth $1,230,000 after purchasing an additional 169,158 shares in the last quarter. Osaic Holdings Inc. increased its position in POET Technologies by 22.3% during the 2nd quarter. Osaic Holdings Inc. now owns 34,735 shares of the company’s stock worth $181,000 after purchasing an additional 6,340 shares in the last quarter. Aptus Capital Advisors LLC increased its position in POET Technologies by 8.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 105,709 shares of the company’s stock worth $586,000 after purchasing an additional 7,800 shares in the last quarter. Finally, NewGen Asset Management Ltd acquired a new position in POET Technologies in the 3rd quarter valued at about $105,000. 1.99% of the stock is owned by institutional investors and hedge funds.

POET Technologies Price Performance

Shares of POET Technologies stock opened at $8.76 on Friday. POET Technologies Inc. has a fifty-two week low of $3.87 and a fifty-two week high of $20.81. The business’s fifty day moving average is $12.08 and its two-hundred day moving average is $8.55. The firm has a market cap of $1.35 billion, a PE ratio of -12.17 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.25 million. Equities research analysts anticipate that POET Technologies Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on POET. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of POET Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, POET Technologies presently has a consensus rating of “Sell” and a consensus target price of $8.00.

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.