POET Technologies (NASDAQ:POET) Price Target Raised to $3.50

POET Technologies (NASDAQ:POET) had its target price hoisted by stock analysts at Craig Hallum from $3.00 to $3.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 15.89% from the stock’s previous close.

POET Technologies Stock Performance

POET stock opened at $3.02 on Thursday. The company has a market cap of $187.10 million, a price-to-earnings ratio of -6.16 and a beta of 0.28. The business’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.15. POET Technologies has a fifty-two week low of $0.72 and a fifty-two week high of $4.05.

POET Technologies (NASDAQ:POET) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Equities analysts predict that POET Technologies will post -0.39 earnings per share 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.