Zacks Investment Research downgraded shares of POET Technologies (OTCMKTS:POETF) from a buy rating to a hold rating in a report published on Tuesday, reports.

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 brokerages have also weighed in on POETF. HC Wainwright reaffirmed a buy rating and set a $1.50 price objective on shares of POET Technologies in a research report on Wednesday, May 1st. ValuEngine raised shares of POET Technologies from a hold rating to a buy rating in a research report on Tuesday, July 2nd.

Shares of POETF opened at $0.32 on Tuesday. The firm has a market cap of $89.38 million, a PE ratio of -5.33 and a beta of 0.95. The firm’s 50 day moving average price is $0.31 and its 200 day moving average price is $0.28. POET Technologies has a twelve month low of $0.17 and a twelve month high of $0.35.

POET Technologies (OTCMKTS:POETF) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. POET Technologies had a negative net margin of 419.83% and a negative return on equity of 69.03%. As a group, research analysts expect that POET Technologies will post -0.04 EPS for the current year.

POET Technologies Company Profile

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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