Paragon Capital Management Ltd lifted its position in shares of POET Technologies Inc. (NASDAQ:POET – Get Rating) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,300 shares of the company's stock after purchasing an additional 11,100 shares during the quarter. Paragon Capital Management Ltd's holdings in POET Technologies were worth $943,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of POET Technologies by 88.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,660 shares of the company's stock worth $300,000 after purchasing an additional 14,400 shares during the period. Royal Bank of Canada acquired a new stake in POET Technologies in the 1st quarter valued at $162,000. Finally, Virtu Financial LLC acquired a new stake in POET Technologies in the 1st quarter valued at $96,000. Institutional investors and hedge funds own 2.48% of the company's stock.
Get POET Technologies alerts:POET Technologies Stock Performance
POET Technologies stock traded up $0.15 during trading on Tuesday, reaching $3.11. The company had a trading volume of 40,330 shares, compared to its average volume of 25,768. The firm's 50-day simple moving average is $2.83 and its 200 day simple moving average is $3.76. POET Technologies Inc. has a 1-year low of $2.34 and a 1-year high of $11.00. The firm has a market capitalization of $114.18 million, a PE ratio of -6.22 and a beta of 0.87.
POET Technologies (NASDAQ:POET – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Analysts anticipate that POET Technologies Inc. will post -0.56 EPS for the current year.Wall Street Analyst Weigh In
Separately, Craig Hallum dropped their price target on shares of POET Technologies to $8.00 in a research note on Thursday, November 17th.
About POET Technologies
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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.
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