Short Interest in POET Technologies Inc. (NASDAQ:POET) Declines By 12.6%

POET Technologies Inc. (NASDAQ:POET) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 434,100 shares, a drop of 12.6% from the May 31st total of 496,500 shares. Based on an average daily volume of 805,400 shares, the short-interest ratio is presently 0.5 days. Currently, 0.9% of the company’s shares are short sold.

POET Technologies Stock Performance

POET Technologies stock opened at $2.07 on Friday. The firm has a market cap of $126.46 million, a price-to-earnings ratio of -4.22 and a beta of 0.31. The firm has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $1.46. POET Technologies has a 52-week low of $0.72 and a 52-week high of $4.86.

POET Technologies (NASDAQ:POET) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $0.01 million for the quarter. As a group, equities research analysts predict that POET Technologies will post -0.39 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.