POET Technologies (NASDAQ:POET) Shares Gap Up – Should You Buy?

Shares of POET Technologies Inc. (NASDAQ:POETGet Free Report) gapped up prior to trading on Friday . The stock had previously closed at $6.17, but opened at $6.43. POET Technologies shares last traded at $6.66, with a volume of 920,697 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Northland Capmk upgraded shares of POET Technologies to a “strong-buy” rating in a report on Monday, November 18th. Northland Securities restated an “outperform” rating and issued a $7.00 target price (up from $6.00) on shares of POET Technologies in a report on Monday, December 2nd. Finally, Craig Hallum boosted their target price on shares of POET Technologies from $3.50 to $5.50 and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Get Our Latest Analysis on POET

POET Technologies Price Performance

The company has a market capitalization of $516.35 million, a price-to-earnings ratio of -11.44 and a beta of 0.42. The business has a fifty day moving average price of $4.72 and a 200 day moving average price of $3.72.

Institutional Trading of POET Technologies

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

POET Technologies Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for POET Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POET Technologies and related companies with MarketBeat.com's FREE daily email newsletter.