Shares of POET Technologies Inc. (NASDAQ:POET – Get 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
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
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.
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