POET Technologies (NASDAQ:POET) Price Target Raised to $5.50

POET Technologies (NASDAQ:POET) had its price target raised by Craig Hallum from $3.50 to $5.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Northland Securities started coverage on shares of POET Technologies in a research note on Monday, November 18th. They issued an “outperform” rating and a $6.00 price target on the stock. Northland Capmk raised POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

POET Technologies Stock Performance

Shares of POET opened at $4.01 on Friday. The company has a market capitalization of $283.52 million, a PE ratio of -6.80 and a beta of 0.33. The company’s 50 day moving average price is $3.94 and its 200 day moving average price is $3.04. POET Technologies has a 52 week low of $0.72 and a 52 week high of $5.60.

Institutional Investors Weigh In On POET Technologies

Large investors have recently bought and sold shares of the business. Toronto Dominion Bank bought a new stake in POET Technologies during the third quarter valued at about $54,000. Quadrature Capital Ltd bought a new stake in POET Technologies during the 3rd quarter valued at approximately $112,000. Centiva Capital LP acquired a new stake in POET Technologies in the 3rd quarter valued at approximately $134,000. XTX Topco Ltd bought a new position in POET Technologies during the third quarter worth $178,000. Finally, SevenBridge Financial Group LLC raised its stake in shares of POET Technologies by 92.8% in the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock valued at $527,000 after buying an additional 57,125 shares in the last quarter. 1.99% of the stock is currently owned by institutional investors.

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.