Traders Purchase Large Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 11,307 call options on the company. This is an increase of 124% compared to the typical volume of 5,057 call options.

Institutional Trading of POET Technologies

Several institutional investors have recently modified their holdings of POET. Tyler Stone Wealth Management increased its position in shares of POET Technologies by 234.6% during the third quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock worth $1,203,000 after purchasing an additional 190,000 shares in the last quarter. XTX Topco Ltd purchased a new position in POET Technologies during the 3rd quarter worth approximately $178,000. Centiva Capital LP acquired a new position in POET Technologies during the third quarter worth approximately $134,000. Toronto Dominion Bank purchased a new stake in POET Technologies in the third quarter valued at approximately $54,000. Finally, Quadrature Capital Ltd purchased a new stake in POET Technologies in the third quarter valued at approximately $112,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

Analyst Ratings Changes

POET has been the subject of a number of recent analyst reports. Northland Securities reiterated an “outperform” rating and set a $7.00 price target (up from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd. Craig Hallum upped their price target on POET Technologies from $3.50 to $5.50 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th.

POET Technologies Stock Up 18.5 %

POET stock opened at $5.76 on Wednesday. The business has a 50 day moving average price of $4.29 and a 200 day moving average price of $3.46. The stock has a market cap of $440.57 million, a price-to-earnings ratio of -9.76 and a beta of 0.42. POET Technologies has a fifty-two week low of $0.84 and a fifty-two week high of $5.87.

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.