Investors Buy Large Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading on Tuesday. Stock investors purchased 11,307 call options on the stock. This is an increase of 124% compared to the typical daily volume of 5,057 call options.

POET Technologies Price Performance

Shares of POET opened at $5.76 on Wednesday. The company’s fifty day moving average price is $4.29 and its 200-day moving average price is $3.46. The firm has a market capitalization of $440.57 million, a PE ratio of -9.76 and a beta of 0.42. POET Technologies has a 1-year low of $0.84 and a 1-year high of $5.87.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

POET has been the subject of several analyst reports. Craig Hallum raised their price objective on POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research note on Friday, November 22nd. Northland Securities restated an “outperform” rating and issued a $7.00 price target (up from $6.00) on shares of POET Technologies in a report on Monday, December 2nd. Finally, Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

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.