POET Technologies Target of Unusually High Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) saw some unusual options trading activity on Tuesday. Traders bought 50,969 call options on the stock. This is an increase of 69% compared to the typical daily volume of 30,248 call options.

POET Technologies Price Performance

POET opened at $5.94 on Wednesday. The firm has a fifty day moving average price of $6.20 and a 200 day moving average price of $6.33. POET Technologies has a 1 year low of $3.09 and a 1 year high of $9.41. The stock has a market cap of $784.20 million, a P/E ratio of -8.25 and a beta of 0.36.

Analysts Set New Price Targets

A number of equities analysts have weighed in on POET shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Thursday, January 22nd. Northland Securities set a $8.00 target price on POET Technologies in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus price target of $8.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of POET. Advisory Services Network LLC purchased a new stake in shares of POET Technologies during the 3rd quarter worth about $25,000. New Millennium Group LLC purchased a new position in shares of POET Technologies in the 3rd quarter valued at about $27,000. CoreCap Advisors LLC raised its holdings in POET Technologies by 1,967.2% in the 3rd quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock worth $29,000 after purchasing an additional 4,918 shares during the period. Quarry LP purchased a new position in POET Technologies during the fourth quarter worth approximately $29,000. Finally, SBI Securities Co. Ltd. boosted its position in POET Technologies by 95.3% during the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock worth $47,000 after purchasing an additional 4,142 shares in the last quarter. Institutional investors and hedge funds own 1.99% of the company’s stock.

About POET Technologies

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.