POET Technologies Inc. (NASDAQ:POET - Get Free Report) rose 0.6% on Friday . The stock traded as high as $5.46 and last traded at $5.25. Approximately 1,180,247 shares traded hands during trading, a decline of 51% from the average daily volume of 2,384,367 shares. The stock had previously closed at $5.22.
Analyst Upgrades and Downgrades
Several analysts have issued reports on POET shares. Northland Securities reissued 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. Northland Capmk raised shares of POET Technologies to a "strong-buy" rating in a report on Monday, November 18th. Finally, Craig Hallum lifted their price objective on shares of POET Technologies from $3.50 to $5.50 and gave the stock a "buy" rating in a research report on Friday, November 22nd.
Read Our Latest Stock Report on POET
POET Technologies Stock Up 0.6 %
The firm has a market cap of $402.10 million, a price-to-earnings ratio of -8.90 and a beta of 0.41. The company's 50-day moving average price is $5.15 and its 200-day moving average price is $4.04.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Tyler Stone Wealth Management boosted its position in shares of POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company's stock valued at $1,203,000 after acquiring an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC grew its stake in shares of POET Technologies by 92.8% in the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company's stock valued at $527,000 after buying an additional 57,125 shares during the period. Centiva Capital LP acquired a new stake in shares of POET Technologies during the 3rd quarter worth approximately $134,000. Quadrature Capital Ltd purchased a new stake in shares of POET Technologies during the 3rd quarter valued at approximately $112,000. Finally, XTX Topco Ltd acquired a new position in POET Technologies in the third quarter valued at approximately $178,000. 1.99% of the stock is 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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