POET Technologies (OTCMKTS:POETF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of POET Technologies (OTCMKTS:POETF) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “POET Technologies Inc. and its subsidiaries are developers of opto-electronic and photonic fabrication processes, devices and products. It offers photonic sensing and optical light source products. The company operates primarily in the United States, Canada and Singapore. POET Technologies Inc. is headquartered in Toronto, Canada. “

POETF has been the topic of a number of other research reports. ValuEngine raised POET Technologies from a hold rating to a buy rating in a research report on Tuesday, July 2nd. HC Wainwright reissued a buy rating and set a $1.50 price target on shares of POET Technologies in a research report on Wednesday, May 1st.

POETF opened at $0.32 on Tuesday. POET Technologies has a 12-month low of $0.17 and a 12-month high of $0.35. The business’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.28. The company has a market capitalization of $92.26 million, a price-to-earnings ratio of -5.33 and a beta of 0.95.

POET Technologies (OTCMKTS:POETF) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. POET Technologies had a negative return on equity of 69.03% and a negative net margin of 419.83%. On average, equities analysts forecast that POET Technologies will post -0.04 EPS for the current fiscal year.

About POET Technologies

POET Technologies Inc designs, manufactures, and sells semi-conductor products in the United States, Canada, and Singapore. It offers optical light source products and photonic integrated devices for the sensing, data and tele communications, medical, instrumentation, industrial, defense, and security markets.

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