Raymond James Financial Inc. Invests $252,000 in POET Technologies Inc. (NASDAQ:POET)

Raymond James Financial Inc. acquired a new position in shares of POET Technologies Inc. (NASDAQ:POET) during the fourth quarter, HoldingsChannel reports. The firm acquired 42,284 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in POET. Renaissance Technologies LLC raised its stake in shares of POET Technologies by 952.0% during the 4th quarter. Renaissance Technologies LLC now owns 311,816 shares of the company’s stock worth $1,855,000 after purchasing an additional 282,176 shares in the last quarter. BluePointe Capital Management LLC bought a new stake in shares of POET Technologies during the 4th quarter worth approximately $244,000. EntryPoint Capital LLC bought a new stake in shares of POET Technologies during the 4th quarter worth approximately $119,000. Kingswood Wealth Advisors LLC bought a new stake in shares of POET Technologies during the 4th quarter worth approximately $119,000. Finally, HighTower Advisors LLC bought a new stake in shares of POET Technologies during the 4th quarter worth approximately $116,000. Institutional investors own 1.99% of the company’s stock.

POET Technologies Stock Up 1.1%

Shares of POET Technologies stock opened at $4.47 on Monday. POET Technologies Inc. has a 12-month low of $1.60 and a 12-month high of $7.79. The stock has a market cap of $349.00 million, a P/E ratio of -7.58 and a beta of 0.19. The business’s 50 day moving average is $3.89 and its 200-day moving average is $4.45.

POET Technologies (NASDAQ:POET) last posted its earnings results on Monday, March 31st. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. On average, sell-side analysts expect that POET Technologies Inc. will post -0.45 EPS for the current year.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. 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.