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

POET Technologies Inc. (NASDAQ:POET) was the recipient of some unusual options trading on Thursday. Investors purchased 15,782 call options on the company. This represents an increase of approximately 340% compared to the average daily volume of 3,589 call options.

POET Technologies Price Performance

POET stock opened at $5.45 on Friday. POET Technologies has a 1-year low of $1.73 and a 1-year high of $7.79. The business has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.48. The company has a market capitalization of $462.21 million, a P/E ratio of -7.36 and a beta of 0.25.

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 analysts’ expectations of $0.56 million. On average, analysts anticipate that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POET Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Anson Funds Management LP purchased a new stake in POET Technologies during the fourth quarter worth $3,999,000. Paragon Capital Management Ltd increased its holdings in shares of POET Technologies by 438.4% in the 1st quarter. Paragon Capital Management Ltd now owns 579,300 shares of the company’s stock valued at $2,190,000 after acquiring an additional 471,700 shares during the period. Jump Financial LLC bought a new position in shares of POET Technologies in the 4th quarter worth $1,834,000. Renaissance Technologies LLC raised its position in shares of POET Technologies by 952.0% in the 4th quarter. Renaissance Technologies LLC now owns 311,816 shares of the company’s stock worth $1,855,000 after acquiring an additional 282,176 shares in the last quarter. Finally, Aptus Capital Advisors LLC purchased a new stake in shares of POET Technologies during the 4th quarter worth $545,000. 1.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

POET Technologies Company Profile

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.