POET Technologies Sees Unusually High Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 6,529 call options on the stock. This represents an increase of approximately 450% compared to the typical daily volume of 1,187 call options.

Wall Street Analyst Weigh In

Separately, Craig Hallum upped their price objective on shares of POET Technologies from $3.00 to $3.50 and gave the company a “buy” rating in a report on Thursday, September 12th.

POET Technologies Stock Up 17.5 %

Shares of NASDAQ POET traded up $0.77 during midday trading on Tuesday, reaching $5.17. 6,235,339 shares of the stock were exchanged, compared to its average volume of 799,231. The firm has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $2.27. POET Technologies has a twelve month low of $0.72 and a twelve month high of $5.23. The firm has a market cap of $320.30 million, a price-to-earnings ratio of -9.76 and a beta of 0.28.

POET Technologies (NASDAQ:POET) last posted its quarterly 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). Research analysts expect 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.