Polymer Capital Management US LLC Acquires New Position in POET Technologies Inc. (NASDAQ:POET)

Polymer Capital Management US LLC acquired a new stake in POET Technologies Inc. (NASDAQ:POET) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,000 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new stake in POET Technologies in the third quarter valued at about $54,000. Defender Capital LLC. acquired a new stake in POET Technologies in the fourth quarter valued at about $61,000. HB Wealth Management LLC acquired a new stake in POET Technologies in the fourth quarter valued at about $89,000. JPMorgan Chase & Co. acquired a new stake in POET Technologies in the fourth quarter valued at about $94,000. Finally, Quadrature Capital Ltd acquired a new stake in POET Technologies in the third quarter valued at about $112,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

POET Technologies Stock Up 18.7 %

Shares of NASDAQ:POET opened at $3.81 on Thursday. The company has a market cap of $297.47 million, a P/E ratio of -6.46 and a beta of 0.48. POET Technologies Inc. has a 52 week low of $1.00 and a 52 week high of $7.79. The company has a 50-day moving average price of $4.11 and a 200 day moving average price of $4.47.

POET Technologies (NASDAQ:POET) last issued its earnings results on Monday, March 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. Analysts expect that POET Technologies Inc. will post -0.45 EPS 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.