POET Technologies (NASDAQ:POET) Stock Price Down 5.7% - Time to Sell?

POET Technologies Inc. (NASDAQ:POET - Get Free Report) shares traded down 5.7% on Monday . The company traded as low as $6.39 and last traded at $6.56. Approximately 1,422,273 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 1,206,611 shares. The stock had previously closed at $6.96.

Analyst Ratings Changes

Several analysts have recently commented on POET shares. Northland Capmk upgraded shares of POET Technologies to a "strong-buy" rating in a research report on Monday, November 18th. Craig Hallum raised their price target on POET Technologies from $3.50 to $5.50 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, Northland Securities reaffirmed an "outperform" rating and issued a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a research note on Monday, December 2nd.

POET Technologies Price Performance

The firm's 50-day moving average price is $4.49 and its 200-day moving average price is $3.59. The stock has a market cap of $486.46 million, a P/E ratio of -10.78 and a beta of 0.42.

Institutional Investors Weigh In On POET Technologies

Several large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of POET Technologies during the 3rd quarter valued at approximately $319,000. Toronto Dominion Bank bought a new position in POET Technologies during the third quarter valued at $54,000. XTX Topco Ltd purchased a new position in shares of POET Technologies in the 3rd quarter worth $178,000. Quadrature Capital Ltd bought a new stake in shares of POET Technologies in the 3rd quarter worth about $112,000. Finally, Centiva Capital LP purchased a new stake in shares of POET Technologies during the 3rd quarter valued at about $134,000. 1.99% of the stock is owned by 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.