POET Technologies Inc. (NASDAQ:POET) Sees Significant Decline in Short Interest

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

POET Technologies Trading Up 33.8 %

NASDAQ:POET opened at $2.77 on Tuesday. The company has a 50-day moving average price of $2.00 and a 200-day moving average price of $1.47. The stock has a market cap of $169.22 million, a price-to-earnings ratio of -5.53 and a beta of 0.29. POET Technologies has a 12 month low of $0.72 and a 12 month high of $4.63.

POET Technologies (NASDAQ:POET) last released its earnings results 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. Equities analysts forecast that POET Technologies will post -0.39 EPS for the current fiscal year.

POET Technologies Company Profile

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.