POET Technologies’ (POET) Outperform Rating Reiterated at Northland Securities

POET Technologies (NASDAQ:POET)‘s stock had its “outperform” rating reaffirmed by analysts at Northland Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $7.00 price target on the stock, up from their previous price target of $6.00. Northland Securities’ price objective would indicate a potential upside of 29.39% from the stock’s current price.

Other equities analysts have also issued reports about the company. Craig Hallum boosted their price target on POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research note on Friday, November 22nd. Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

POET Technologies Stock Performance

NASDAQ:POET opened at $5.41 on Monday. The firm’s 50-day moving average is $4.12 and its 200-day moving average is $3.13. The company has a market cap of $383.14 million, a price-to-earnings ratio of -9.17 and a beta of 0.33. POET Technologies has a 52-week low of $0.72 and a 52-week high of $5.60.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new stake in POET Technologies during the third quarter valued at approximately $54,000. Quadrature Capital Ltd acquired a new stake in POET Technologies in the 3rd quarter valued at $112,000. Centiva Capital LP bought a new stake in POET Technologies in the third quarter valued at $134,000. XTX Topco Ltd acquired a new position in POET Technologies during the third quarter worth $178,000. Finally, SevenBridge Financial Group LLC lifted its holdings in shares of POET Technologies by 92.8% during the third quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock valued at $527,000 after acquiring an additional 57,125 shares during the period. Institutional investors and hedge funds own 1.99% of the company’s stock.

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.