Investors Buy High Volume of Call Options on POET Technologies (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of some unusual options trading on Tuesday. Stock investors acquired 11,307 call options on the company. This represents an increase of approximately 124% compared to the average volume of 5,057 call options.

POET Technologies Trading Up 19.5 %

NASDAQ POET traded up $0.95 on Tuesday, reaching $5.81. The stock had a trading volume of 3,523,782 shares, compared to its average volume of 1,144,027. POET Technologies has a 1 year low of $0.84 and a 1 year high of $5.85. The business has a 50 day moving average price of $4.29 and a 200 day moving average price of $3.46. The company has a market capitalization of $444.39 million, a price-to-earnings ratio of -9.85 and a beta of 0.42.

Institutional Investors Weigh In On POET Technologies

Several large investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new stake in shares of POET Technologies in the 3rd quarter valued at $54,000. Quadrature Capital Ltd bought a new position in POET Technologies during the third quarter valued at about $112,000. Centiva Capital LP bought a new position in POET Technologies during the third quarter valued at about $134,000. XTX Topco Ltd acquired a new stake in shares of POET Technologies in the third quarter worth about $178,000. Finally, Virtu Financial LLC bought a new stake in shares of POET Technologies during the 3rd quarter worth about $319,000. Institutional investors own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on POET shares. Northland Securities reiterated an “outperform” rating and issued a $7.00 target price (up previously from $6.00) on shares of POET Technologies in a report on Monday, December 2nd. Craig Hallum upped their price objective on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Northland Capmk upgraded shares of POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

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.