Centiva Capital LP Purchases New Holdings in POET Technologies Inc. (NASDAQ:POET)

Centiva Capital LP acquired a new position in POET Technologies Inc. (NASDAQ:POET) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,178 shares of the company’s stock, valued at approximately $134,000.

Separately, SevenBridge Financial Group LLC lifted its stake 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 worth $527,000 after acquiring an additional 57,125 shares during the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Stock Down 2.3 %

POET opened at $4.25 on Friday. POET Technologies Inc. has a 52 week low of $0.77 and a 52 week high of $5.83. The company has a market capitalization of $325.00 million, a P/E ratio of -7.20 and a beta of 0.42. The stock’s fifty day moving average is $4.20 and its two-hundred day moving average is $3.32.

Analysts Set New Price Targets

POET has been the topic of several research analyst reports. Northland Securities reaffirmed an “outperform” rating and issued a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Craig Hallum lifted their price objective on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a report on Friday, November 22nd.

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.