POET Technologies (NASDAQ:POET) Coverage Initiated at Northland Securities

Research analysts at Northland Securities started coverage on shares of POET Technologies (NASDAQ:POET) in a research note issued on Monday, Marketbeat reports. The firm set an “outperform” rating and a $6.00 price target on the stock. Northland Securities’ price target would indicate a potential upside of 47.42% from the stock’s current price.

Separately, Craig Hallum raised their price target on shares of POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

POET Technologies Stock Performance

POET Technologies stock opened at $4.07 on Monday. POET Technologies has a fifty-two week low of $0.72 and a fifty-two week high of $5.60. The company has a market cap of $287.75 million, a PE ratio of -6.90 and a beta of 0.33. The business’s 50-day simple moving average is $3.89 and its two-hundred day simple moving average is $3.00.

Institutional Inflows and Outflows

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