Traders Buy High Volume of Call Options on POET Technologies (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 4,655 call options on the stock. This is an increase of approximately 149% compared to the typical daily volume of 1,873 call options.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum raised their price objective on shares of POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Thursday, September 12th.

POET Technologies Trading Down 2.8 %

NASDAQ POET opened at $3.85 on Friday. POET Technologies has a 1-year low of $0.72 and a 1-year high of $5.60. The company has a market capitalization of $238.52 million, a price-to-earnings ratio of -7.86 and a beta of 0.30. The stock’s 50 day moving average is $3.32 and its two-hundred day moving average is $2.52.

POET Technologies (NASDAQ:POET) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, analysts predict that POET Technologies will post -0.39 earnings per share 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.