POET Technologies (NASDAQ:POET) Stock Price Expected to Rise, Craig Hallum Analyst Says

POET Technologies (NASDAQ:POET) had its price target increased by Craig Hallum from $3.50 to $5.50 in a research report report published on Friday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

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

POET Technologies Stock Performance

Shares of POET opened at $4.25 on Friday. POET Technologies has a one year low of $0.72 and a one year high of $5.60. The stock has a 50-day moving average price of $3.96 and a 200 day moving average price of $3.06. The company has a market capitalization of $300.48 million, a P/E ratio of -7.20 and a beta of 0.33.

Institutional Investors Weigh In On POET Technologies

A number of institutional investors have recently made changes to their positions in POET. Toronto Dominion Bank bought a new stake in POET Technologies during the third quarter valued at $54,000. Quadrature Capital Ltd bought a new stake in shares of POET Technologies during the 3rd quarter valued at about $112,000. Centiva Capital LP acquired a new stake in POET Technologies during the third quarter worth about $134,000. XTX Topco Ltd bought a new position in POET Technologies in the third quarter worth about $178,000. Finally, Virtu Financial LLC acquired a new position in POET Technologies in the third quarter valued at approximately $319,000. 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.