POET Technologies (NASDAQ:POET) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of POET Technologies (NASDAQ:POET) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Trading Down 4.6%

Shares of POET opened at $7.41 on Friday. The company’s fifty day simple moving average is $7.90 and its 200-day simple moving average is $9.15. The company has a market cap of $1.14 billion, a P/E ratio of -12.78 and a beta of 0.83. POET Technologies has a twelve month low of $3.87 and a twelve month high of $20.81.

POET Technologies (NASDAQ:POET) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%.The firm had revenue of $0.57 million during the quarter, compared to analyst estimates of $0.50 million. During the same period last year, the company earned ($0.21) EPS. Analysts predict that POET Technologies will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of POET Technologies

Institutional investors have recently bought and sold shares of the stock. IPG Investment Advisors LLC purchased a new stake in POET Technologies during the 2nd quarter worth approximately $149,000. Archford Capital Strategies LLC purchased a new position in shares of POET Technologies in the second quarter worth $103,000. TD Waterhouse Canada Inc. lifted its stake in shares of POET Technologies by 58.8% during the second quarter. TD Waterhouse Canada Inc. now owns 15,679 shares of the company’s stock worth $152,000 after buying an additional 5,807 shares during the period. Teza Capital Management LLC acquired a new stake in shares of POET Technologies during the second quarter worth $349,000. Finally, Headlands Technologies LLC grew its holdings in shares of POET Technologies by 53.1% during the second quarter. Headlands Technologies LLC now owns 56,776 shares of the company’s stock valued at $584,000 after buying an additional 19,692 shares during the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

About POET Technologies

POET Technologies, Inc is a technology company that develops photonic integrated circuits, optical engines and related semiconductor components for high-speed communications. Its products are designed to convert and transmit data using light, supporting applications in data centers, telecommunications networks, artificial intelligence infrastructure and high-performance computing.

The company’s technology is based on its Optical Interposer platform, which integrates electronic and photonic components into compact, scalable modules.