POET Technologies Inc. (NASDAQ:POET) Short Interest Update

POET Technologies Inc. (NASDAQ:POET) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,110,000 shares, a growth of 18.5% from the October 15th total of 1,780,000 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On POET Technologies

A number of large investors have recently made changes to their positions in the stock. Tyler Stone Wealth Management increased its holdings in POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after acquiring an additional 190,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in POET Technologies in the 3rd quarter valued at about $178,000. Centiva Capital LP acquired a new position in POET Technologies during the third quarter worth approximately $134,000. Quadrature Capital Ltd purchased a new position in shares of POET Technologies in the 3rd quarter worth $112,000. Finally, SevenBridge Financial Group LLC raised its holdings in shares of POET Technologies by 92.8% in the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock worth $527,000 after purchasing an additional 57,125 shares during the period. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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 company a “buy” rating in a research report on Thursday, September 12th.

POET Technologies Price Performance

NASDAQ POET traded down $0.20 on Friday, reaching $3.64. The stock had a trading volume of 1,612,004 shares, compared to its average volume of 1,054,435. The business’s 50-day moving average price is $3.85 and its 200 day moving average price is $2.98. POET Technologies has a 12-month low of $0.72 and a 12-month high of $5.60.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, research analysts forecast that POET Technologies will post -0.45 earnings per share for the current 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.