In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on POET Technologies Inc (POETF), with a price target of $1.50. The company’s shares closed yesterday at $0.26.
Dede commented:
“We hope people are watching. Yesterday, POET released its 2018 annual 20-F report and 4Q18 earnings press release. While some dissecting is required to sift through the full 4Q18 P/L, the top line $1.6M stands out as the first greater-than-million-dollar quarter POET has generated in the more than four years we have been watching the company, reflecting 72% sequential growth from $0.9M in 3Q18 and almost 120% year-over-year growth from $0.7M in 4Q17. Margins shot up too on NRE funding from POET’s various partners reaching 67.3% in 4Q18 up from 58.3% in 3Q18. The quarter’s revenue bump was supported by POET’s $8-10M 2019 sales guidance reiteration, implying at least a revenue double in current year.”
According to TipRanks.com, Dede ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 34.8% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and SuperCom.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for POET Technologies Inc with a $1.50 average price target.
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Based on POET Technologies Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.94 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 design, development, manufacture, and sale of opto-electronic solutions for the sensing, data communications, and telecommunications markets. It focuses on the Indium Phosphide platform for datacom and sensing; and gallium arsenide-based platform for short-reach datacom.
