POET Technologies Inc. (NASDAQ:POET – Get Rating) – Investment analysts at HC Wainwright issued their Q3 2023 earnings estimates for shares of POET Technologies in a report released on Wednesday, April 26th. HC Wainwright analyst K. Dede anticipates that the company will earn ($0.13) per share for the quarter. The consensus estimate for POET Technologies' current full-year earnings is ($0.57) per share. HC Wainwright also issued estimates for POET Technologies' Q4 2023 earnings at ($0.12) EPS and FY2023 earnings at ($0.55) EPS.

POET Technologies Stock Performance

NASDAQ:POET opened at $4.06 on Friday. The firm has a market cap of $161.67 million, a P/E ratio of -7.12 and a beta of 1.12. POET Technologies has a fifty-two week low of $2.34 and a fifty-two week high of $6.72. The firm has a 50-day simple moving average of $3.98 and a two-hundred day simple moving average of $3.64.

POET Technologies (NASDAQ:POET – Get Rating) last issued its quarterly earnings results on Friday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.01). The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.19 million.

Hedge Funds Weigh In On POET Technologies

Large investors have recently added to or reduced their stakes in the company. Paragon Capital Management Ltd lifted its holdings in shares of POET Technologies by 19.0% in the fourth quarter. Paragon Capital Management Ltd now owns 438,300 shares of the company's stock worth $1,324,000 after buying an additional 70,000 shares in the last quarter. Group One Trading L.P. bought a new stake in POET Technologies in the fourth quarter worth $70,000. Royal Bank of Canada bought a new stake in POET Technologies in the first quarter worth $162,000. National Bank of Canada FI increased its position in POET Technologies by 1,027.5% in the first quarter. National Bank of Canada FI now owns 22,550 shares of the company's stock worth $88,000 after purchasing an additional 20,550 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in POET Technologies in the first quarter worth $118,000. Hedge funds and other institutional investors own 2.05% of the company's stock.

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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