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

POET Technologies (NASDAQ:POET) was upgraded by research analysts at Northland Capmk to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

POET Technologies Stock Up 0.3 %

Shares of POET stock opened at $3.65 on Monday. The firm has a market cap of $258.06 million, a price-to-earnings ratio of -6.19 and a beta of 0.33. POET Technologies has a 52-week low of $0.72 and a 52-week high of $5.60. The company’s 50 day moving average is $3.86 and its 200 day moving average is $2.99.

Hedge Funds Weigh In On POET Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tyler Stone Wealth Management lifted its holdings in shares of POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after purchasing an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC grew its stake in POET Technologies by 92.8% during the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock worth $527,000 after buying an additional 57,125 shares during the last quarter. XTX Topco Ltd acquired a new position in POET Technologies during the 3rd quarter valued at about $178,000. Centiva Capital LP purchased a new stake in POET Technologies in the third quarter valued at about $134,000. Finally, Quadrature Capital Ltd purchased a new stake in POET Technologies in the third quarter valued at about $112,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

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.