POET Technologies (NASDAQ:POET) Shares Gap Up – What’s Next?

POET Technologies Inc. (NASDAQ:POET) gapped up before the market opened on Friday . The stock had previously closed at $6.33, but opened at $6.66. POET Technologies shares last traded at $6.92, with a volume of 1,230,318 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wall Street Zen raised POET Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. Finally, Northland Securities set a $8.00 price objective on POET Technologies in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Trading Up 13.1%

The stock has a market cap of $943.47 million, a price-to-earnings ratio of -9.94 and a beta of 0.31. The company has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $5.91.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%.The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.55 million. Equities analysts forecast that POET Technologies Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of POET Technologies

A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in POET Technologies in the third quarter valued at $25,000. New Millennium Group LLC acquired a new position in shares of POET Technologies during the 3rd quarter worth about $27,000. CoreCap Advisors LLC grew its holdings in shares of POET Technologies by 1,967.2% in the 3rd quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after acquiring an additional 4,918 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of POET Technologies by 95.3% in the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock valued at $47,000 after acquiring an additional 4,142 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in POET Technologies during the third quarter worth about $55,000. Institutional investors own 1.99% of the company’s stock.

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.