Renaissance Technologies LLC raised its position in shares of POET Technologies Inc. (NASDAQ:POET - Free Report) by 952.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 311,816 shares of the company's stock after purchasing an additional 282,176 shares during the quarter. Renaissance Technologies LLC owned approximately 0.41% of POET Technologies worth $1,855,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Defender Capital LLC. acquired a new position in shares of POET Technologies in the 4th quarter valued at about $61,000. Polymer Capital Management US LLC acquired a new stake in shares of POET Technologies during the 4th quarter worth approximately $77,000. HB Wealth Management LLC bought a new stake in shares of POET Technologies in the 4th quarter valued at $89,000. JPMorgan Chase & Co. acquired a new position in shares of POET Technologies during the 4th quarter valued at $94,000. Finally, HighTower Advisors LLC bought a new position in POET Technologies during the fourth quarter worth $116,000. Institutional investors own 1.99% of the company's stock.
POET Technologies Stock Performance
Shares of NASDAQ POET traded down $0.24 during trading on Tuesday, hitting $4.07. 519,376 shares of the company traded hands, compared to its average volume of 1,576,230. The firm has a market capitalization of $317.77 million, a price-to-earnings ratio of -6.90 and a beta of 0.48. The business's fifty day moving average is $3.85 and its 200 day moving average is $4.43. POET Technologies Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $7.79.
POET Technologies (NASDAQ:POET - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. On average, analysts predict that POET Technologies Inc. will post -0.45 EPS for the current year.
About POET Technologies
(
Free Report)
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.
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