POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of some unusual options trading on Tuesday. Investors acquired 6,529 call options on the company. This represents an increase of approximately 450% compared to the typical volume of 1,187 call options.

Analysts Set New Price Targets

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

POET Technologies Trading Up 17.5 %

POET stock traded up $0.77 during midday trading on Tuesday, hitting $5.17. 6,235,339 shares of the company’s stock were exchanged, compared to its average volume of 799,231. POET Technologies has a 12-month low of $0.72 and a 12-month high of $5.23. The firm has a 50 day moving average price of $2.99 and a 200-day moving average price of $2.27. The stock has a market capitalization of $320.30 million, a price-to-earnings ratio of -9.76 and a beta of 0.28.

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 analysts’ consensus estimates of ($0.09) by ($0.05). On average, sell-side analysts forecast that POET Technologies will post -0.39 EPS for the current fiscal 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.