POET Technologies (NASDAQ:POET) Stock Price Up 0.6% – What’s Next?

Shares of POET Technologies Inc. (NASDAQ:POET) shot up 0.6% during mid-day trading on Friday . The stock traded as high as $5.46 and last traded at $5.25. 1,180,247 shares were traded during mid-day trading, a decline of 51% from the average session volume of 2,384,367 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Northland Securities reaffirmed an “outperform” rating and set a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd. Finally, Craig Hallum lifted their target price on POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a report on Friday, November 22nd.

POET Technologies Trading Up 0.6 %

The stock has a market cap of $402.10 million, a price-to-earnings ratio of -8.90 and a beta of 0.41. The stock’s 50 day moving average is $5.12 and its two-hundred day moving average is $4.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Defender Capital LLC. purchased a new position in shares of POET Technologies in the 4th quarter valued at about $61,000. Toronto Dominion Bank purchased a new stake in shares of POET Technologies during the 3rd quarter worth approximately $54,000. HB Wealth Management LLC acquired a new stake in shares of POET Technologies in the 4th quarter worth approximately $89,000. Kingswood Wealth Advisors LLC purchased a new position in POET Technologies in the 4th quarter valued at approximately $119,000. Finally, Quadrature Capital Ltd acquired a new position in POET Technologies during the third quarter worth $112,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.