POET Technologies (OTCMKTS:POETF) Stock Rating Upgraded by Zacks Investment Research

POET Technologies (OTCMKTS:POETF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm presently has a $0.25 price target on the stock. Zacks Investment Research‘s target price would indicate a potential downside of 12.95% from the stock’s current price.

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. “

Several other analysts also recently weighed in on the company. ValuEngine downgraded POET Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. HC Wainwright restated a “buy” rating and set a $1.50 target price on shares of POET Technologies in a research note on Wednesday, May 1st.

Shares of OTCMKTS:POETF opened at $0.29 on Thursday. POET Technologies has a twelve month low of $0.17 and a twelve month high of $0.34. The company has a market cap of $82.10 million, a P/E ratio of -4.79 and a beta of 0.84.

POET Technologies (OTCMKTS:POETF) last announced its earnings results on Tuesday, April 30th. The company reported ($0.01) earnings per share for the quarter. POET Technologies had a negative net margin of 419.83% and a negative return on equity of 69.03%. The business had revenue of $1.56 million for the quarter. On average, equities analysts forecast that POET Technologies will post -0.04 earnings per share for the current 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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