POET Technologies (NASDAQ:POET) Now Covered by Northland Securities

Northland Securities assumed coverage on shares of POET Technologies (NASDAQ:POET - Free Report) in a research report released on Monday, MarketBeat.com reports. The firm issued an outperform rating and a $6.00 price objective on the stock.

Separately, Craig Hallum boosted 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 Price Performance

NASDAQ:POET traded up $0.01 during trading hours on Monday, reaching $3.65. 978,012 shares of the stock were exchanged, compared to its average volume of 979,450. The stock has a market cap of $258.06 million, a PE ratio of -6.39 and a beta of 0.33. POET Technologies has a twelve month low of $0.72 and a twelve month high of $5.60. The firm has a 50 day moving average of $3.85 and a 200 day moving average of $2.98.

Institutional Trading of POET Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tyler Stone Wealth Management raised its holdings in shares of POET Technologies by 234.6% in 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 period. XTX Topco Ltd acquired a new position in POET Technologies during the third quarter worth approximately $178,000. Toronto Dominion Bank bought a new stake in POET Technologies in the third quarter valued at approximately $54,000. Centiva Capital LP acquired a new position in POET Technologies in the 3rd quarter valued at about $134,000. Finally, Quadrature Capital Ltd bought a new position in POET Technologies in the 3rd quarter valued at about $112,000. 1.99% of the stock is owned by institutional investors.

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.