Traders Buy High Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 14,469 call options on the stock. This is an increase of 59% compared to the typical volume of 9,115 call options.

POET Technologies Stock Performance

POET Technologies stock opened at $6.19 on Friday. POET Technologies has a 1 year low of $3.09 and a 1 year high of $7.79. The firm has a 50 day moving average price of $5.50 and a 200 day moving average price of $4.80. The company has a market cap of $561.56 million, a price-to-earnings ratio of -7.64 and a beta of 0.38.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). POET Technologies had a negative net margin of 11,497.01% and a negative return on equity of 141.43%. The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.39 million. Sell-side analysts predict that POET Technologies will post -0.45 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered POET Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POET. MMCAP International Inc. SPC increased its stake in POET Technologies by 2,198.7% during the second quarter. MMCAP International Inc. SPC now owns 5,894,384 shares of the company’s stock worth $30,710,000 after acquiring an additional 5,637,964 shares during the last quarter. Paragon Capital Management Ltd grew its holdings in shares of POET Technologies by 438.4% during the 1st quarter. Paragon Capital Management Ltd now owns 579,300 shares of the company’s stock worth $2,190,000 after purchasing an additional 471,700 shares during the period. Tyler Stone Wealth Management increased its position in POET Technologies by 24.1% during the 1st quarter. Tyler Stone Wealth Management now owns 349,800 shares of the company’s stock worth $1,322,000 after purchasing an additional 68,000 shares in the last quarter. Raymond James Financial Inc. raised its holdings in POET Technologies by 253.1% in the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock valued at $1,230,000 after buying an additional 169,158 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in POET Technologies during the second quarter valued at approximately $855,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.