POET Technologies Inc. (NASDAQ:POET – Get Rating) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 113,000 shares, a growth of 99.3% from the January 15th total of 56,700 shares. Currently, 0.3% of the company's stock are sold short. Based on an average trading volume of 39,500 shares, the short-interest ratio is currently 2.9 days.
Analyst Ratings Changes
Separately, Craig Hallum cut their price target on POET Technologies to $8.00 in a research note on Thursday, November 17th.
Get POET Technologies alerts:Hedge Funds Weigh In On POET Technologies
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Paragon Capital Management Ltd increased its stake in POET Technologies by 3.1% during the third quarter. Paragon Capital Management Ltd now owns 368,300 shares of the company's stock worth $943,000 after purchasing an additional 11,100 shares during the period. Virtu Financial LLC purchased a new position in POET Technologies in the 1st quarter valued at approximately $96,000. JPMorgan Chase & Co. raised 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 valued at $300,000 after acquiring an additional 14,400 shares in the last quarter. Royal Bank of Canada purchased a new stake in POET Technologies during the 1st quarter worth about $162,000. Finally, Group One Trading L.P. acquired a new stake in POET Technologies in the 4th quarter valued at about $70,000. 2.05% of the stock is currently owned by hedge funds and other institutional investors.
POET Technologies Stock Down 0.4 %
Shares of POET traded down $0.02 during mid-day trading on Monday, hitting $4.51. 11,126 shares of the company were exchanged, compared to its average volume of 63,401. The company has a 50 day moving average of $3.93 and a 200-day moving average of $3.50. POET Technologies has a 1-year low of $2.34 and a 1-year high of $11.00.POET Technologies (NASDAQ:POET – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.18 million. Sell-side analysts expect that POET Technologies will post -0.56 earnings per share for the current fiscal year.
POET Technologies Company Profile
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POET Technologies, Inc engages in the designing, developing, manufacturing and sale of opto-electronic solutions for the sensing, data communications and telecommunications markets. It developed POET Optical Interposer platform, which allows the integration of electronic and photonic devices into a single multi-chip module.
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