Short Interest in POET Technologies Inc. (NASDAQ:POET) Increases By 21.4%

POET Technologies Inc. (NASDAQ:POET) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,420,000 shares, a growth of 21.4% from the August 15th total of 1,170,000 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 1.4 days.

POET Technologies Trading Up 6.9 %

NASDAQ:POET traded up $0.22 during trading hours on Tuesday, hitting $3.39. 228,534 shares of the company were exchanged, compared to its average volume of 693,334. The stock has a market capitalization of $222.69 million, a price-to-earnings ratio of -7.04 and a beta of 0.28. POET Technologies has a one year low of $0.72 and a one year high of $4.05. The company has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $2.19.

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

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their price target on POET Technologies from $3.00 to $3.50 and gave the company 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.