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

Northland Securities assumed coverage on shares of POET Technologies (NASDAQ:POET) in a report released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $6.00 target price on the stock.

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

POET Technologies Stock Performance

Shares of POET stock opened at $4.01 on Monday. The stock has a fifty day moving average price of $3.92 and a 200 day moving average price of $3.01. The stock has a market cap of $283.61 million, a PE ratio of -6.80 and a beta of 0.33. POET Technologies has a 1 year low of $0.72 and a 1 year high of $5.60.

Hedge Funds Weigh In On POET Technologies

Institutional investors have recently made changes to their positions in the stock. Tyler Stone Wealth Management raised its holdings in shares of POET Technologies by 234.6% in the third 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. XTX Topco Ltd acquired a new position in POET Technologies in the third quarter valued at $178,000. Virtu Financial LLC acquired a new position in POET Technologies in the third quarter valued at $319,000. Toronto Dominion Bank acquired a new position in POET Technologies in the third quarter valued at $54,000. Finally, Centiva Capital LP acquired a new position in POET Technologies in the third quarter valued at $134,000. 1.99% of the stock is owned by institutional investors and hedge funds.

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.