H.C. Wainwright analyst Kevin Dede maintained a Buy rating on POET Technologies Inc (POETF) today and set a price target of $1.50. The company’s shares closed on Friday at $0.27.
Dede noted:
“We hope to wade through it a bit—contrary to the metaphor, as dry as it may be —in showing the continued positive trend of the POET’s consolidated operations: March’s $1.8M in sales were up roughly 20% sequentially from the $1.6M posted in the December quarter and incrementally ahead of our $1.5M estimate.”
According to TipRanks.com, Dede ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.4% and a 25.9% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Microvision, SuperCom, and Resonant.
Currently, the analyst consensus on POET Technologies Inc is a Moderate Buy with an average price target of $1.50.
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Based on POET Technologies Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.68 million. In comparison, last year the company had a GAAP net loss of $3.17 million.
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POET Technologies, Inc. engages in the designing, developing, manufacturing, and sale of opto-electronic solutions for the sensing, data communications, and telecommunications markets. It developed POET Optical Interposer platform, which allows the integration of electronic and photonic devices into a single multi-chip module.
