POET Technologies Inc. (NASDAQ:POET - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.10 and last traded at $7.06, with a volume of 1599804 shares. The stock had previously closed at $5.76.
Analyst Upgrades and Downgrades
POET has been the topic of a number of recent analyst reports. Northland Securities reissued an "outperform" rating and issued a $7.00 price objective (up from $6.00) on shares of POET Technologies in a research note on Monday, December 2nd. Craig Hallum lifted their price objective on POET Technologies from $3.50 to $5.50 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Finally, Northland Capmk upgraded POET Technologies to a "strong-buy" rating in a research note on Monday, November 18th.
View Our Latest Analysis on POET
POET Technologies Trading Up 31.8 %
The firm has a market cap of $580.54 million, a P/E ratio of -12.86 and a beta of 0.42. The company's fifty day moving average price is $4.43 and its two-hundred day moving average price is $3.53.
Hedge Funds Weigh In On POET Technologies
A number of large investors have recently modified their holdings of POET. Toronto Dominion Bank bought a new position in shares of POET Technologies in the 3rd quarter worth $54,000. Quadrature Capital Ltd bought a new position in POET Technologies during the third quarter worth about $112,000. Centiva Capital LP bought a new position in 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 bought a new stake in shares of POET Technologies in the 3rd quarter valued at about $319,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.
POET Technologies Company Profile
(
Get Free Report)
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.
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