POET Technologies Inc. (NASDAQ:POET) Sees Large Growth in … – MarketBeat
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
POET Technologies Inc. (NASDAQ:POET – Get Rating) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 7,300 shares, an increase of 102.8% from the November 30th total of 3,600 shares. Based on an average trading volume of 23,700 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are sold short.
Hedge Funds Weigh In On POET Technologies
A number of hedge funds have recently added to or reduced their stakes in POET. Virtu Financial LLC acquired a new position in POET Technologies during the 1st quarter valued at about $96,000. JPMorgan Chase & Co. acquired a new position in POET Technologies during the 1st quarter valued at about $118,000. Royal Bank of Canada acquired a new position in POET Technologies during the 1st quarter valued at about $162,000. Finally, Paragon Capital Management Ltd boosted its stake in POET Technologies by 3.1% during the 3rd quarter. Paragon Capital Management Ltd now owns 368,300 shares of the company’s stock valued at $943,000 after purchasing an additional 11,100 shares during the last quarter. Institutional investors and hedge funds own 2.05% of the company’s stock.
POET Technologies Trading Down 0.7 %
POET Technologies stock traded down $0.02 during midday trading on Wednesday, reaching $2.85. The stock had a trading volume of 5,775 shares, compared to its average volume of 25,337. POET Technologies has a 12 month low of $2.34 and a 12 month high of $11.00. The company has a market capitalization of $104.64 million, a P/E ratio of -5.70 and a beta of 0.87. The company has a fifty day moving average price of $2.85 and a two-hundred day moving average price of $3.65.
POET Technologies (NASDAQ:POET – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.18 million. On average, equities research analysts predict that POET Technologies will post -0.56 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Craig Hallum decreased their target price on POET Technologies to $8.00 in a research report on Thursday, November 17th.
About POET Technologies
(Get Rating)
POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, and Singapore. 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 and packaging methods.
See Also
- Get a free copy of the StockNews.com research report on POET Technologies (POET)
- The Top Three Stocks Analysts Say To Buy
- Can Dick’s Sporting Goods Stock Score Another Win In Q4?
- Why Did Immutep Ltd Stock Soar Recently?
- Yum! Brands Looks Tasty in 2023
- 3 Industrial Stocks to Help Build Your 2023 Watchlist
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider POET Technologies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and POET Technologies wasn’t on the list.
While POET Technologies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2023 and why they should be in your portfolio.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.