POET Technologies (NASDAQ:POET) Stock Rating Upgraded by Wall Street Zen

POET Technologies (NASDAQ:POET) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of POET Technologies in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

POET Technologies Stock Down 4.3%

POET stock opened at $6.22 on Friday. The stock has a market capitalization of $564.28 million, a price-to-earnings ratio of -7.68 and a beta of 0.37. POET Technologies has a twelve month low of $3.09 and a twelve month high of $7.79. The firm’s fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $4.89.

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

Hedge Funds Weigh In On POET Technologies

Several hedge funds have recently modified their holdings of POET. MMCAP International Inc. SPC increased its holdings in shares of 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 valued at $30,710,000 after acquiring an additional 5,637,964 shares in the last quarter. Paragon Capital Management Ltd increased its holdings in shares of POET Technologies by 438.4% during the first 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 in the last quarter. Raymond James Financial Inc. increased its holdings in shares of POET Technologies by 253.1% during the second quarter. Raymond James Financial Inc. now owns 235,992 shares of the company’s stock valued at $1,230,000 after acquiring an additional 169,158 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of POET Technologies during the second quarter valued at about $855,000. Finally, Jump Financial LLC acquired a new position in shares of POET Technologies during the second quarter valued at about $619,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.