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

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

POET Technologies Stock Performance

Shares of POET Technologies stock traded up $0.10 during midday trading on Monday, reaching $3.17. 436,621 shares of the company’s stock traded hands, compared to its average volume of 695,928. The company has a market cap of $208.24 million, a PE ratio of -6.47 and a beta of 0.28. The stock has a 50 day moving average of $2.96 and a 200-day moving average of $2.19. POET Technologies has a 12 month low of $0.72 and a 12 month high of $4.05.

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

Analysts Set New Price Targets

Separately, Craig Hallum increased their price objective on POET Technologies from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Thursday.

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.