POET Technologies Target of Unusually Large Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the recipient of some unusual options trading on Wednesday. Traders bought 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.

POET Technologies Stock Down 5.9 %

Shares of POET traded down $0.25 during mid-day trading on Wednesday, reaching $3.96. 1,654,688 shares of the company's stock were exchanged, compared to its average volume of 949,923. The company has a market cap of $245.33 million, a price-to-earnings ratio of -8.12 and a beta of 0.30. POET Technologies has a 52-week low of $0.72 and a 52-week high of $5.60. The company has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $2.51.

POET Technologies (NASDAQ:POET - Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). As a group, equities research analysts predict that POET Technologies will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased 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.