POET Technologies (NASDAQ:POET) Stock Rating 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 report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of POET Technologies in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, POET Technologies currently has an average rating of “Sell” and a consensus price target of $8.00.

POET Technologies Trading Up 19.0%

NASDAQ POET opened at $5.07 on Friday. The stock has a market capitalization of $877.31 million, a price-to-earnings ratio of -8.74 and a beta of 0.91. POET Technologies has a twelve month low of $3.87 and a twelve month high of $20.81. The stock has a 50-day moving average of $6.76 and a 200 day moving average of $8.19.

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). The company had revenue of $0.57 million for the quarter, compared to the consensus estimate of $0.50 million. POET Technologies had a negative return on equity of 11.65% and a negative net margin of 4,423.13%. During the same quarter in the prior year, the business posted ($0.21) earnings per share. Equities analysts predict that POET Technologies will post -0.28 EPS for the current fiscal year.

Institutional Trading of POET Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in shares of POET Technologies during the 1st quarter worth $59,000. Quintet Private Bank Europe S.A. grew its holdings in shares of POET Technologies by 220.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 8,000 shares of the company’s stock valued at $60,000 after purchasing an additional 5,500 shares during the period. Vise Technologies Inc. purchased a new stake in shares of POET Technologies in the third quarter valued at about $76,000. Hidden Cove Wealth Management LLC acquired a new stake in POET Technologies during the third quarter worth about $78,000. Finally, Compound Planning Inc. acquired a new stake in POET Technologies during the first quarter worth about $94,000. 1.99% of the stock is owned by institutional investors and hedge funds.

POET Technologies Company Profile

POET Technologies Inc (NASDAQ:POET) is a semiconductor and photonics company that develops optical components and integrated solutions for high-speed communications. Its technologies are designed to support applications in data centers, artificial intelligence and machine learning infrastructure, telecommunications, and other markets that require high-bandwidth, energy-efficient data transmission.

The company’s portfolio is centered on the POET Optical Interposer, a platform that integrates optical and electronic components into compact, scalable modules.