POET Technologies (NASDAQ:POET) Upgraded to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of POET Technologies (NASDAQ:POET) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on POET. Northland Securities began coverage on POET Technologies in a report on Monday. They issued an “outperform” rating and a $6.00 price target on the stock. Craig Hallum raised their target price on POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Thursday, September 12th.

POET Technologies Stock Performance

Shares of POET stock opened at $3.93 on Monday. The stock’s fifty day moving average is $3.91 and its 200-day moving average is $3.01. The stock has a market capitalization of $277.86 million, a PE ratio of -6.66 and a beta of 0.33. 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

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank acquired a new stake in shares of POET Technologies during the third quarter worth about $54,000. Quadrature Capital Ltd acquired a new stake in POET Technologies in the 3rd quarter valued at approximately $112,000. Centiva Capital LP acquired a new position in shares of POET Technologies during the 3rd quarter worth approximately $134,000. XTX Topco Ltd acquired a new position in shares of POET Technologies during the 3rd quarter worth approximately $178,000. Finally, Virtu Financial LLC acquired a new position in shares of POET Technologies during the 3rd quarter worth approximately $319,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.