POET Technologies’ (POET) Outperform Rating Reaffirmed at Northland Securities

POET Technologies (NASDAQ:POET)‘s stock had its “outperform” rating restated by investment analysts at Northland Securities in a research note issued on Monday,Benzinga reports. They presently have a $7.00 price objective on the stock, up from their previous price objective of $6.00. Northland Securities’ target price would indicate a potential upside of 31.58% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Craig Hallum raised their price target on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research report on Friday, November 22nd.

POET Technologies Price Performance

NASDAQ:POET opened at $5.32 on Monday. The company has a market cap of $376.76 million, a PE ratio of -9.02 and a beta of 0.42. POET Technologies has a one year low of $0.77 and a one year high of $5.83. The firm has a 50-day moving average of $4.14 and a 200-day moving average of $3.17.

Institutional Inflows and Outflows

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