Stock Traders Purchase High Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading on Monday. Stock traders purchased 7,879 call options on the stock. This is an increase of 158% compared to the average daily volume of 3,056 call options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in POET Technologies in the third quarter valued at $319,000. Toronto Dominion Bank acquired a new position in POET Technologies in the 3rd quarter valued at about $54,000. XTX Topco Ltd purchased a new stake in POET Technologies during the 3rd quarter valued at approximately $178,000. Quadrature Capital Ltd acquired a new stake in POET Technologies during the 3rd quarter worth approximately $112,000. Finally, Centiva Capital LP acquired a new stake in POET Technologies during the 3rd quarter worth approximately $134,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

POET Technologies Stock Performance

POET opened at $5.32 on Wednesday. POET Technologies has a one year low of $0.77 and a one year high of $5.83. The stock has a market capitalization of $376.76 million, a P/E ratio of -9.02 and a beta of 0.42. The business’s 50-day simple moving average is $4.14 and its 200-day simple moving average is $3.17.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on POET shares. Northland Capmk raised POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th. Northland Securities reissued an “outperform” rating and set a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a report on Monday. Finally, Craig Hallum upped their target price on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a report on Friday, November 22nd.

About POET Technologies

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.