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

POET Technologies Inc. (NASDAQ:POET - Get Free Report) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,780,000 shares, a decrease of 14.8% from the September 30th total of 2,090,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Craig Hallum boosted their price target 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.

POET Technologies Trading Down 0.5 %

NASDAQ POET traded down $0.02 during trading hours on Monday, reaching $3.82. 767,578 shares of the stock traded hands, compared to its average volume of 967,234. The stock has a 50 day simple moving average of $3.62 and a two-hundred day simple moving average of $2.75. POET Technologies has a 1 year low of $0.72 and a 1 year high of $5.60.

POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). Research analysts forecast that POET Technologies will post -0.45 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.