Investors Purchase High Volume of Call Options on POET Technologies (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of some unusual options trading on Monday. Stock traders acquired 7,105 call options on the company. This represents an increase of approximately 105% compared to the average daily volume of 3,464 call options.

POET Technologies Stock Performance

POET stock opened at $4.34 on Wednesday. POET Technologies has a one year low of $1.65 and a one year high of $7.79. The firm’s fifty day moving average is $4.09 and its 200 day moving average is $4.52. The firm has a market cap of $340.51 million, a PE ratio of -7.36 and a beta of 0.19.

POET Technologies (NASDAQ:POET) last posted its earnings results on Wednesday, May 21st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.56 million. Research analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of POET Technologies

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of POET Technologies during the 4th quarter valued at approximately $252,000. Jump Financial LLC purchased a new stake in POET Technologies in the 4th quarter worth $1,834,000. HighTower Advisors LLC acquired a new position in POET Technologies during the fourth quarter worth $116,000. JPMorgan Chase & Co. acquired a new position in POET Technologies during the fourth quarter worth $94,000. Finally, Renaissance Technologies LLC lifted its holdings in POET Technologies by 952.0% during the fourth quarter. Renaissance Technologies LLC now owns 311,816 shares of the company’s stock valued at $1,855,000 after purchasing an additional 282,176 shares in the last quarter. 1.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded POET Technologies from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

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.