Virtu Financial LLC Sells 50,283 Shares of POET Technologies Inc. (NASDAQ:POET)

Virtu Financial LLC lowered its position in shares of POET Technologies Inc. (NASDAQ:POET) by 70.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,472 shares of the company’s stock after selling 50,283 shares during the period. Virtu Financial LLC’s holdings in POET Technologies were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of POET. Toronto Dominion Bank acquired a new stake in POET Technologies during the 3rd quarter worth approximately $54,000. Defender Capital LLC. acquired a new stake in shares of POET Technologies in the fourth quarter valued at about $61,000. HB Wealth Management LLC acquired a new position in shares of POET Technologies in the fourth quarter worth approximately $89,000. Quadrature Capital Ltd acquired a new stake in POET Technologies during the 3rd quarter valued at approximately $112,000. Finally, HighTower Advisors LLC acquired a new position in shares of POET Technologies in the 4th quarter worth approximately $116,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

POET Technologies Stock Down 3.2 %

Shares of NASDAQ:POET opened at $3.91 on Monday. The stock’s 50 day moving average is $4.38 and its 200-day moving average is $4.47. POET Technologies Inc. has a twelve month low of $1.00 and a twelve month high of $7.79. The firm has a market capitalization of $305.25 million, a price-to-earnings ratio of -6.63 and a beta of 0.60.

Analyst Upgrades and Downgrades

Separately, Northland Securities reissued an “outperform” rating and issued a $7.00 price objective (up from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd.

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.