POET Technologies Inc. (NASDAQ:POET - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 11,307 call options on the company. This represents an increase of 124% compared to the typical daily volume of 5,057 call options.
Analysts Set New Price Targets
Several research analysts have commented on POET shares. Craig Hallum raised their target price on shares of POET Technologies from $3.50 to $5.50 and gave the stock a "buy" rating in a report on Friday, November 22nd. Northland Capmk raised shares of POET Technologies to a "strong-buy" rating in a research note on Monday, November 18th. Finally, Northland Securities reissued an "outperform" rating and set a $7.00 target price (up from $6.00) on shares of POET Technologies in a research note on Monday, December 2nd.
Check Out Our Latest Stock Analysis on POET
POET Technologies Stock Performance
Shares of NASDAQ POET traded up $0.90 during mid-day trading on Tuesday, reaching $5.76. The company had a trading volume of 4,405,568 shares, compared to its average volume of 1,148,699. POET Technologies has a twelve month low of $0.84 and a twelve month high of $5.87. The stock's 50 day moving average is $4.29 and its 200-day moving average is $3.46. The stock has a market capitalization of $440.57 million, a PE ratio of -9.76 and a beta of 0.42.
Institutional Trading of POET Technologies
A number of institutional investors have recently added to or reduced their stakes in POET. Toronto Dominion Bank acquired a new stake in shares of POET Technologies in the third quarter worth $54,000. Quadrature Capital Ltd bought a new position in POET Technologies during the third quarter valued at about $112,000. Centiva Capital LP acquired a new stake in shares of POET Technologies during the 3rd quarter worth approximately $134,000. XTX Topco Ltd bought a new stake in shares of POET Technologies during the third quarter valued at approximately $178,000. Finally, SevenBridge Financial Group LLC lifted its position in POET Technologies by 92.8% in the third quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company's stock worth $527,000 after purchasing an additional 57,125 shares during the period. 1.99% of the stock is currently owned by institutional investors and hedge funds.
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.
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