Northland Securities Initiates Coverage on POET Technologies (NASDAQ:POET)

Analysts at Northland Securities began coverage on shares of POET Technologies (NASDAQ:POET) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $6.00 price target on the stock. Northland Securities’ price objective suggests a potential upside of 47.42% from the company’s previous close.

Separately, Craig Hallum increased their price target on shares of POET Technologies from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Thursday, September 12th.

POET Technologies Trading Up 11.5 %

POET opened at $4.07 on Monday. POET Technologies has a 12 month low of $0.72 and a 12 month high of $5.60. The stock has a fifty day moving average price of $3.89 and a 200-day moving average price of $3.00. The firm has a market cap of $287.75 million, a price-to-earnings ratio of -6.90 and a beta of 0.33.

Institutional Trading of POET Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tyler Stone Wealth Management grew its stake in POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock worth $1,203,000 after buying an additional 190,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in POET Technologies in the third quarter worth about $178,000. Toronto Dominion Bank purchased a new stake in shares of POET Technologies during the third quarter worth about $54,000. Centiva Capital LP acquired a new position in shares of POET Technologies during the third quarter valued at about $134,000. Finally, Quadrature Capital Ltd purchased a new position in shares of POET Technologies in the 3rd quarter valued at approximately $112,000. 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.