Wall Street Zen downgraded POET Technologies (NASDAQ: POET) from Hold to Sell in a research note issued Saturday. Weiss Ratings also has a Sell (D-) rating on the company.
POET’s average analyst rating is Sell. The consensus price target is $8.00.
The stock opened at $7.77 on Friday. Its shares are trading below their 50-day and 200-day moving averages, a signal market analysts often view as bearish.
POET recently reported a quarterly loss of $0.07 per share, in line with analyst expectations.