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

POET Technologies (NASDAQ:POET) was upgraded by equities researchers at Northland Capmk to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on POET. Northland Securities began coverage on shares of POET Technologies in a research report on Monday. They issued an “outperform” rating and a $6.00 price target on the stock. Craig Hallum increased their price objective on POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Thursday, September 12th.

POET Technologies Trading Up 11.5 %

NASDAQ POET opened at $4.07 on Monday. POET Technologies has a 52 week low of $0.72 and a 52 week high of $5.60. The stock has a market cap of $287.75 million, a price-to-earnings ratio of -6.90 and a beta of 0.33. The company has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $3.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new position in POET Technologies in the 3rd quarter worth approximately $54,000. XTX Topco Ltd acquired a new position in shares of POET Technologies during the 3rd quarter worth about $178,000. Quadrature Capital Ltd acquired a new stake in POET Technologies in the third quarter worth $112,000. Centiva Capital LP acquired a new stake in POET Technologies during the 3rd quarter worth $134,000. Finally, SevenBridge Financial Group LLC grew its position in shares of POET Technologies by 92.8% in the 3rd 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.