Northland Capmk Upgrades POET Technologies (NASDAQ:POET) to Strong-Buy

Northland Capmk upgraded shares of POET Technologies (NASDAQ:POET) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts also recently commented on POET. Craig Hallum lifted their target price on POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Thursday, September 12th. Northland Securities began coverage on POET Technologies in a research report on Monday. They set an “outperform” rating and a $6.00 price objective for the company.

POET Technologies Stock Performance

POET stock opened at $3.65 on Monday. The company has a market capitalization of $258.06 million, a P/E ratio of -6.19 and a beta of 0.33. The company has a fifty day moving average price of $3.86 and a 200-day moving average price of $2.99. POET Technologies has a 52-week low of $0.72 and a 52-week high of $5.60.

Institutional Investors Weigh In On POET Technologies

Large investors have recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in POET Technologies in the third quarter valued at $54,000. Quadrature Capital Ltd bought a new position in shares of POET Technologies in the 3rd quarter worth about $112,000. Centiva Capital LP acquired a new position in shares of POET Technologies in the 3rd quarter valued at about $134,000. XTX Topco Ltd bought a new stake in shares of POET Technologies during the 3rd quarter valued at about $178,000. Finally, SevenBridge Financial Group LLC boosted its position in shares of POET Technologies by 92.8% during the 3rd 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. 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.