Northland Securities Begins Coverage on POET Technologies (NASDAQ:POET)

Northland Securities assumed coverage on shares of POET Technologies (NASDAQ:POET) in a report published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $6.00 target price on the stock.

Separately, Craig Hallum upped their target price on POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

POET Technologies Trading Up 2.1 %

POET stock opened at $4.01 on Monday. The stock has a 50-day moving average price of $3.92 and a two-hundred day moving average price of $3.01. POET Technologies has a 12-month low of $0.72 and a 12-month high of $5.60. The company has a market cap of $283.61 million, a PE ratio of -6.80 and a beta of 0.33.

Institutional Investors Weigh In On POET Technologies

Several institutional investors and hedge funds have recently modified their holdings of POET. Tyler Stone Wealth Management boosted its holdings in POET Technologies by 234.6% in the third quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after purchasing an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC boosted its holdings in POET Technologies by 92.8% in the third quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock valued at $527,000 after purchasing an additional 57,125 shares during the last quarter. Centiva Capital LP purchased a new position in POET Technologies in the third quarter valued at about $134,000. Quadrature Capital Ltd purchased a new position in POET Technologies in the third quarter valued at about $112,000. Finally, XTX Topco Ltd purchased a new position in POET Technologies in the third quarter valued at about $178,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Company Profile

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.