HB Wealth Management LLC Makes New Investment in POET Technologies Inc. (NASDAQ:POET)

HB Wealth Management LLC acquired a new stake in shares of POET Technologies Inc. (NASDAQ:POET) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $89,000.

Other large investors have also modified their holdings of the company. Tyler Stone Wealth Management boosted its stake in POET Technologies by 234.6% during the third 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 in the last quarter. SevenBridge Financial Group LLC boosted its position in shares of POET Technologies by 92.8% during the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock valued at $527,000 after acquiring an additional 57,125 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of POET Technologies during the 3rd quarter valued at about $319,000. XTX Topco Ltd bought a new stake in POET Technologies in the third quarter valued at about $178,000. Finally, Centiva Capital LP acquired a new position in POET Technologies in the third quarter worth about $134,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

POET Technologies Trading Up 0.6 %

NASDAQ POET opened at $5.25 on Friday. The firm has a market cap of $402.10 million, a price-to-earnings ratio of -8.90 and a beta of 0.41. POET Technologies Inc. has a 1-year low of $1.00 and a 1-year high of $7.79. The company has a 50 day moving average of $5.15 and a 200-day moving average of $4.03.

Analyst Ratings Changes

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

About POET Technologies

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.