POET Technologies (NASDAQ:POET) Upgraded at Northland Capmk

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

Several other equities research analysts have also recently weighed in on POET. Craig Hallum increased their price objective on POET Technologies from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Thursday, September 12th. Northland Securities assumed coverage on POET Technologies in a research report on Monday. They issued an “outperform” rating and a $6.00 price objective for the company.

POET Technologies Trading Down 3.4 %

POET opened at $3.93 on Monday. POET Technologies has a 1-year low of $0.72 and a 1-year high of $5.60. The stock has a market capitalization of $277.86 million, a price-to-earnings ratio of -6.66 and a beta of 0.33. The business has a 50 day moving average of $3.91 and a 200-day moving average of $3.01.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in shares of POET Technologies in the third quarter valued at $54,000. Quadrature Capital Ltd acquired a new position in shares of POET Technologies in the third quarter valued at $112,000. Centiva Capital LP acquired a new position in POET Technologies during the third quarter worth $134,000. XTX Topco Ltd acquired a new position in POET Technologies during the third quarter worth $178,000. Finally, Virtu Financial LLC acquired a new position in POET Technologies during the third quarter worth $319,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.