POET Technologies Target of Unusually Large Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of some unusual options trading activity on Thursday. Stock traders acquired 15,782 call options on the company. This represents an increase of 340% compared to the average volume of 3,589 call options.

POET Technologies Trading Up 7.5%

NASDAQ POET opened at $5.45 on Friday. The firm’s fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $4.48. The firm has a market capitalization of $462.21 million, a P/E ratio of -7.36 and a beta of 0.25. POET Technologies has a 12-month low of $1.73 and a 12-month high of $7.79.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.17. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.56 million. As a group, sell-side analysts predict that POET Technologies will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of POET Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On POET Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of POET Technologies during the fourth quarter worth about $252,000. HighTower Advisors LLC purchased a new position in shares of POET Technologies in the 4th quarter valued at approximately $116,000. BluePointe Capital Management LLC acquired a new stake in POET Technologies in the 4th quarter worth approximately $244,000. EntryPoint Capital LLC acquired a new stake in POET Technologies in the 4th quarter worth approximately $119,000. Finally, Tyler Stone Wealth Management grew its position in POET Technologies by 4.0% during the 4th quarter. Tyler Stone Wealth Management now owns 281,800 shares of the company’s stock worth $1,677,000 after purchasing an additional 10,800 shares during the last quarter. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

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.