POET Technologies (NASDAQ:POET) Price Target Raised to $5.50 at Craig Hallum

POET Technologies (NASDAQ:POET) had its price target boosted by equities research analysts at Craig Hallum from $3.50 to $5.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 37.16% from the company’s current price.

Several other brokerages have also issued reports on POET. Northland Securities assumed coverage on POET Technologies in a research note on Monday, November 18th. They set an “outperform” rating and a $6.00 price target on the stock. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th.

POET Technologies Stock Performance

NASDAQ:POET opened at $4.01 on Friday. The company has a market cap of $283.51 million, a price-to-earnings ratio of -6.80 and a beta of 0.33. The stock’s fifty day moving average price is $3.94 and its two-hundred day moving average price is $3.03. POET Technologies has a 52-week low of $0.72 and a 52-week high of $5.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tyler Stone Wealth Management boosted its position in shares of POET Technologies by 234.6% during the third quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock worth $1,203,000 after purchasing an additional 190,000 shares in the last quarter. Virtu Financial LLC bought a new position in POET Technologies during the third quarter worth about $319,000. SevenBridge Financial Group LLC grew its stake in POET Technologies by 92.8% in 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. XTX Topco Ltd bought a new stake in shares of POET Technologies in the third quarter worth about $178,000. Finally, Centiva Capital LP acquired a new stake in shares of POET Technologies during the third quarter worth about $134,000. 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.