Northland Securities Initiates Coverage on POET Technologies (NASDAQ:POET)

Research analysts at Northland Securities initiated coverage on shares of POET Technologies (NASDAQ:POET) in a report released on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $6.00 price target on the stock. Northland Securities’ price objective would suggest a potential upside of 59.15% from the company’s previous close.

Separately, Craig Hallum increased their target price on POET Technologies from $3.00 to $3.50 and gave the company a “buy” rating in a report on Thursday, September 12th.

POET Technologies Price Performance

NASDAQ POET opened at $3.77 on Monday. The stock has a market capitalization of $266.54 million, a price-to-earnings ratio of -6.39 and a beta of 0.33. POET Technologies has a 1-year low of $0.72 and a 1-year high of $5.60. The business’s fifty day moving average price is $3.85 and its 200-day moving average price is $2.98.

Institutional Trading of POET Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tyler Stone Wealth Management boosted its stake 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 worth $1,203,000 after acquiring an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in 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 purchasing an additional 57,125 shares in the last quarter. XTX Topco Ltd purchased a new position in POET Technologies during the third quarter valued at $178,000. Centiva Capital LP bought a new stake in POET Technologies during the third quarter valued at about $134,000. Finally, Quadrature Capital Ltd purchased a new stake in POET Technologies in the third quarter worth about $112,000. 1.99% of the stock is owned by hedge funds and other 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.