Short Interest in POET Technologies Inc. (NASDAQ:POET) Declines By 14.8%

POET Technologies Inc. (NASDAQ:POET) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,780,000 shares, a decline of 14.8% from the September 30th total of 2,090,000 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is currently 1.1 days.

POET Technologies Trading Down 2.8 %

NASDAQ:POET opened at $3.84 on Monday. The company has a market capitalization of $237.90 million, a P/E ratio of -7.84 and a beta of 0.30. POET Technologies has a 12 month low of $0.72 and a 12 month high of $5.60. The firm has a fifty day simple moving average of $3.62 and a 200-day simple moving average of $2.75.

POET Technologies (NASDAQ:POET) last issued its earnings results 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). Equities analysts forecast that POET Technologies will post -0.45 EPS for the current year.

Analyst Ratings Changes

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

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.