POET Technologies (NASDAQ:POET) Sees Large Volume Increase – Still a Buy?

POET Technologies Inc. (NASDAQ:POET) shares saw unusually-high trading volume on Thursday . Approximately 4,913,235 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 4,025,387 shares.The stock last traded at $6.2350 and had previously closed at $6.01.

Analyst Upgrades and Downgrades

POET has been the subject of a number of analyst reports. Northland Securities set a $8.00 price objective on POET Technologies in a research report on Wednesday. Wall Street Zen upgraded shares of POET Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Stock Up 7.2%

The stock has a market cap of $584.69 million, a price-to-earnings ratio of -8.96 and a beta of 0.46. The stock has a 50 day simple moving average of $6.17 and a 200 day simple moving average of $5.55.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. bought a new stake in POET Technologies in the 3rd quarter worth about $55,000. Advisory Services Network LLC purchased a new position in shares of POET Technologies in the 3rd quarter worth approximately $25,000. Millennium Management LLC boosted its holdings in shares of POET Technologies by 19.9% in the third quarter. Millennium Management LLC now owns 100,399 shares of the company’s stock worth $556,000 after acquiring an additional 16,664 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of POET Technologies by 31.8% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 23,533 shares of the company’s stock valued at $130,000 after purchasing an additional 5,681 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in POET Technologies during the 3rd quarter worth about $117,000. 1.99% of the stock is owned by institutional investors.

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.