POET Technologies Inc. $POET Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in shares of POET Technologies Inc. (NASDAQ:POET) by 96.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,450 shares of the company’s stock after selling 412,246 shares during the quarter. Private Advisor Group LLC’s holdings in POET Technologies were worth $92,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of POET Technologies during the 3rd quarter worth $25,000. Quarry LP purchased a new stake in shares of POET Technologies in the 4th quarter worth about $29,000. Albion Financial Group UT grew its stake in POET Technologies by 233.3% in the 4th quarter. Albion Financial Group UT now owns 10,000 shares of the company’s stock valued at $63,000 after acquiring an additional 7,000 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in POET Technologies in the 3rd quarter valued at about $55,000. Finally, Capital Financial Group Inc. Co. ADV purchased a new position in POET Technologies during the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on POET shares. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of POET Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell” and an average price target of $8.00.

POET Technologies Stock Up 1.1%

NASDAQ POET opened at $7.47 on Tuesday. POET Technologies Inc. has a fifty-two week low of $3.87 and a fifty-two week high of $20.81. The business has a fifty day moving average of $11.69 and a 200-day moving average of $8.68. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -10.38 and a beta of 0.75.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.25 million. POET Technologies had a negative net margin of 5,786.60% and a negative return on equity of 27.24%. As a group, analysts anticipate that POET Technologies Inc. will post -0.24 EPS for the current year.

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.