POET Technologies Inc. (NASDAQ:POET - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $6.17, but opened at $6.43. POET Technologies shares last traded at $6.66, with a volume of 920,697 shares traded.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Craig Hallum upped their price objective on POET Technologies from $3.50 to $5.50 and gave the company a "buy" rating in a research report on Friday, November 22nd. Northland Capmk upgraded POET Technologies to a "strong-buy" rating in a research report on Monday, November 18th. Finally, Northland Securities reiterated an "outperform" rating and set a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd.
Get Our Latest Analysis on POET
POET Technologies Price Performance
The firm has a market cap of $516.35 million, a PE ratio of -11.44 and a beta of 0.42. The company has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $3.69.
Hedge Funds Weigh In On POET Technologies
Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank purchased a new position in shares of POET Technologies during the third quarter worth approximately $54,000. Quadrature Capital Ltd bought a new position in POET Technologies in the third quarter worth approximately $112,000. Centiva Capital LP purchased a new position in POET Technologies during the 3rd quarter worth $134,000. XTX Topco Ltd bought a new stake in POET Technologies during the 3rd quarter valued at $178,000. Finally, Virtu Financial LLC purchased a new stake in shares of POET Technologies in the 3rd quarter worth $319,000. Institutional investors own 1.99% of the company's stock.
About POET Technologies
(
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.
Further Reading
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