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

POET Technologies (NASDAQ:POET) had its price objective lifted by Craig Hallum from $3.50 to $5.50 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

POET has been the topic of a number of other reports. Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th. Northland Securities initiated coverage on POET Technologies in a report on Monday, November 18th. They set an “outperform” rating and a $6.00 target price on the stock.

POET Technologies Trading Down 0.7 %

Shares of NASDAQ POET opened at $4.01 on Friday. POET Technologies has a 1-year low of $0.72 and a 1-year high of $5.60. The company has a 50-day moving average of $3.94 and a two-hundred day moving average of $3.04. The company has a market cap of $283.52 million, a PE ratio of -6.80 and a beta of 0.33.

Institutional Investors Weigh In On POET Technologies

Hedge funds have recently bought and sold shares of the company. Tyler Stone Wealth Management grew its holdings in shares of POET Technologies by 234.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after buying an additional 190,000 shares during the period. 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. 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.