Northland Securities Reiterates “Outperform” Rating for POET Technologies (NASDAQ:POET)

POET Technologies (NASDAQ:POET)‘s stock had its “outperform” rating reiterated by research analysts at Northland Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $7.00 price objective on the stock, up from their previous price objective of $6.00. Northland Securities’ price objective would indicate a potential upside of 29.39% from the company’s previous close.

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

POET Technologies Stock Performance

Shares of NASDAQ:POET opened at $5.41 on Monday. The business has a fifty day moving average of $4.12 and a 200-day moving average of $3.13. POET Technologies has a twelve month low of $0.72 and a twelve month high of $5.60. The firm has a market cap of $383.14 million, a PE ratio of -9.17 and a beta of 0.33.

Hedge Funds Weigh In On POET Technologies

Several large investors have recently bought and sold shares of the business. Toronto Dominion Bank bought a new stake in shares of POET Technologies during the 3rd quarter valued at $54,000. Quadrature Capital Ltd acquired a new stake in shares of POET Technologies during the third quarter worth $112,000. Centiva Capital LP bought a new stake in POET Technologies in the third quarter valued at about $134,000. XTX Topco Ltd acquired a new position in POET Technologies in the third quarter valued at about $178,000. Finally, Virtu Financial LLC bought a new position in POET Technologies during the third quarter worth about $319,000. 1.99% of the stock is currently 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.