POET Technologies (NASDAQ:POET) Upgraded at Northland Capmk

Northland Capmk upgraded shares of POET Technologies (NASDAQ:POET - Free Report) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other research firms also recently commented on POET. Craig Hallum upped their target price on POET Technologies from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Thursday, September 12th. Northland Securities started coverage on POET Technologies in a report on Monday. They set an "outperform" rating and a $6.00 target price for the company.

POET Technologies Stock Up 11.5 %

Shares of NASDAQ POET traded up $0.42 during mid-day trading on Monday, reaching $4.07. 1,964,735 shares of the company were exchanged, compared to its average volume of 983,869. POET Technologies has a twelve month low of $0.72 and a twelve month high of $5.60. The stock has a market capitalization of $287.75 million, a P/E ratio of -6.90 and a beta of 0.33. The company's 50-day simple moving average is $3.89 and its 200-day simple moving average is $3.00.

Institutional Investors Weigh In On POET Technologies

Several institutional investors have recently made changes to their positions in POET. Toronto Dominion Bank bought a new position in POET Technologies during the 3rd quarter worth $54,000. Quadrature Capital Ltd acquired a new position in POET Technologies in the third quarter valued at about $112,000. Centiva Capital LP bought a new stake in POET Technologies during the third quarter worth about $134,000. XTX Topco Ltd bought a new stake in POET Technologies during the third quarter worth about $178,000. Finally, SevenBridge Financial Group LLC increased its holdings in 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. 1.99% of the stock is currently 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.