POET Technologies (NASDAQ:POET) Stock Rating Upgraded by Northland Capmk

POET Technologies (NASDAQ:POET) was upgraded by equities research analysts at Northland Capmk to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on POET. Northland Securities initiated coverage on POET Technologies in a research report on Monday. They set an “outperform” rating and a $6.00 price objective on the stock. Craig Hallum increased their price objective on shares of 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 11.5 %

Shares of POET opened at $4.07 on Monday. The stock’s 50 day moving average is $3.89 and its two-hundred day moving average is $3.00. The firm has a market cap of $287.75 million, a P/E ratio of -6.90 and a beta of 0.33. POET Technologies has a 12 month low of $0.72 and a 12 month high of $5.60.

Institutional Investors Weigh In On POET Technologies

Several hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank purchased a new position in shares of POET Technologies in the third quarter valued at $54,000. Quadrature Capital Ltd purchased a new position in shares of POET Technologies during the 3rd quarter worth about $112,000. Centiva Capital LP purchased a new position in POET Technologies during the third quarter worth approximately $134,000. XTX Topco Ltd acquired a new position in POET Technologies in the third quarter valued at $178,000. Finally, SevenBridge Financial Group LLC increased its position in POET Technologies by 92.8% during the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock worth $527,000 after purchasing an additional 57,125 shares in the last quarter. Institutional investors and hedge funds 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.