POET Technologies’ (POET) Outperform Rating Reaffirmed at Northland Securities

Northland Securities reaffirmed their outperform rating on shares of POET Technologies (NASDAQ:POET) in a research note published on Monday,Benzinga reports. They currently have a $7.00 target price on the stock, up from their previous target price of $6.00.

Several other brokerages have also issued reports on POET. Craig Hallum upped their target price on POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research report on Friday, November 22nd. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

POET Technologies Stock Down 8.5 %

Shares of POET opened at $4.95 on Monday. The company has a 50 day moving average of $4.12 and a two-hundred day moving average of $3.13. The company has a market cap of $350.58 million, a price-to-earnings ratio of -8.39 and a beta of 0.33. POET Technologies has a twelve month low of $0.77 and a twelve month high of $5.83.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in shares of POET Technologies in the third quarter valued at about $54,000. Quadrature Capital Ltd purchased a new stake in POET Technologies in the third quarter valued at approximately $112,000. Centiva Capital LP purchased a new stake in POET Technologies in the third quarter valued at approximately $134,000. XTX Topco Ltd acquired a new position in POET Technologies in the 3rd quarter worth approximately $178,000. Finally, Virtu Financial LLC purchased a new position in POET Technologies during the 3rd quarter worth approximately $319,000. 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.