POET Technologies Inc. (NASDAQ:POET – Get Rating) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,600 shares, an increase of 100.0% from the November 15th total of 1,800 shares. Based on an average trading volume of 24,300 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
Separately, Craig Hallum reduced their price target on POET Technologies to $8.00 in a research report on Thursday, November 17th.
Get POET Technologies alerts:POET Technologies Trading Down 1.7 %
POET traded down $0.05 during trading hours on Thursday, hitting $2.97. The company's stock had a trading volume of 99 shares, compared to its average volume of 25,669. The company has a 50-day simple moving average of $2.82 and a 200 day simple moving average of $3.82. The firm has a market capitalization of $109.04 million, a PE ratio of -6.04 and a beta of 0.87. POET Technologies has a fifty-two week low of $2.34 and a fifty-two week high of $11.00.
POET Technologies (NASDAQ:POET – Get Rating) last announced its earnings results on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping 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. Research analysts expect that POET Technologies will post -0.56 earnings per share for the current fiscal year.Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of POET Technologies by 88.6% in the second quarter. JPMorgan Chase & Co. now owns 30,660 shares of the company's stock worth $300,000 after acquiring an additional 14,400 shares during the last quarter. Royal Bank of Canada acquired a new stake in POET Technologies during the first quarter worth about $162,000. Virtu Financial LLC acquired a new stake in shares of POET Technologies during the 1st quarter worth approximately $96,000. Paragon Capital Management Ltd increased its position in shares of POET Technologies by 3.1% during the third 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 period. Finally, MMCAP International Inc. SPC bought a new position in POET Technologies in the first quarter worth $2,720,000. Institutional investors and hedge funds own 2.48% of the company's stock.
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.
Read More
- Get a free copy of the StockNews.com research report on POET Technologies (POET)
- Game-Changing News For Mullen Automotive
- Inflation and the Energy Crisis are Two Freight Trains on a Collision Course – Here's How to Prepare
- Is Enterprise Products Partners Fairly Valued?
- Will WhatsApp Partnership Boost MercadoLibre's Earnings?
- 3 Mid-Caps That Could Double in 2023
Receive News & Ratings for POET Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POET Technologies and related companies with MarketBeat.com's FREE daily email newsletter.