POET Technologies (NASDAQ:POET) Sees Large Volume Increase – Here’s Why

POET Technologies Inc. (NASDAQ:POET) saw an uptick in trading volume on Thursday . 10,640,886 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 8,695,731 shares.The stock last traded at $7.7230 and had previously closed at $7.44.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on POET. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of POET Technologies in a research note on Thursday, January 22nd. Finally, Northland Securities set a $8.00 price objective on shares of POET Technologies in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $8.00.

POET Technologies Trading Up 3.6%

The company has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.25. The company has a market cap of $1.02 billion, a P/E ratio of -10.70 and a beta of 0.36.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Scotia Capital Inc. lifted its holdings in POET Technologies by 13.0% during the 2nd quarter. Scotia Capital Inc. now owns 18,295 shares of the company’s stock valued at $95,000 after buying an additional 2,100 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in POET Technologies by 34.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,473 shares of the company’s stock worth $85,000 after acquiring an additional 3,473 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of 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 acquiring an additional 4,142 shares during the period. Advisory Services Network LLC bought a new stake in shares of POET Technologies during the third quarter valued at approximately $25,000. Finally, Quarry LP bought a new stake in shares of POET Technologies during the fourth quarter valued at approximately $29,000. Hedge funds and other 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.