POET Technologies Inc. (NASDAQ:POET – Get Rating) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 73,500 shares, a decline of 24.4% from the March 15th total of 97,200 shares. Based on an average daily volume of 43,600 shares, the short-interest ratio is currently 1.7 days. Approximately 0.2% of the company's stock are short sold.
POET Technologies Price Performance
POET traded down $0.09 on Tuesday, reaching $3.76. 8,193 shares of the company traded hands, compared to its average volume of 40,045. The stock's 50 day moving average price is $4.11 and its 200-day moving average price is $3.59. POET Technologies has a 52-week low of $2.34 and a 52-week high of $7.38. The company has a market cap of $149.72 million, a price-to-earnings ratio of -6.60 and a beta of 1.12.
Get POET Technologies alerts:POET Technologies (NASDAQ:POET – Get Rating) last announced its quarterly earnings data on Friday, March 31st. The company reported ($0.17) 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 analysts' expectations of $0.19 million. As a group, equities research analysts forecast that POET Technologies will post -0.57 earnings per share for the current fiscal year.
Institutional Trading of POET Technologies
Several large investors have recently added to or reduced their stakes in the business. Paragon Capital Management Ltd grew its position in POET Technologies by 3.1% in the third quarter. Paragon Capital Management Ltd now owns 368,300 shares of the company's stock worth $943,000 after acquiring an additional 11,100 shares in the last quarter. Virtu Financial LLC bought a new stake in POET Technologies in the first quarter worth approximately $96,000. JPMorgan Chase & Co. grew its position in POET Technologies by 88.6% in the second quarter. JPMorgan Chase & Co. now owns 30,660 shares of the company's stock worth $300,000 after acquiring an additional 14,400 shares in the last quarter. National Bank of Canada FI grew 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 acquiring an additional 20,550 shares in the last quarter. Finally, Royal Bank of Canada bought a new stake in POET Technologies in the first quarter worth approximately $162,000. 2.05% of the stock is owned by institutional investors.
About POET Technologies
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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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