POET Technologies (NASDAQ:POET) Receives “Outperform” Rating from Northland Securities

Northland Securities restated their outperform rating on shares of POET Technologies (NASDAQ:POET) in a research note issued to investors on Monday,Benzinga reports. Northland Securities currently has a $7.00 target price on the stock, up from their prior target price of $6.00.

A number of other analysts also recently issued reports on the stock. Craig Hallum increased their price target on shares of POET Technologies from $3.50 to $5.50 and gave the stock a “buy” rating in a report on Friday, November 22nd. Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

POET Technologies Trading Down 8.5 %

POET Technologies stock opened at $4.95 on Monday. The firm has a market cap of $350.58 million, a PE ratio of -8.39 and a beta of 0.33. POET Technologies has a 12 month low of $0.77 and a 12 month high of $5.83. The stock’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $3.13.

Institutional Inflows and Outflows

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

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.