POET Technologies (NASDAQ:POET) Stock Price Down 5.7% – Should You Sell?

POET Technologies Inc. (NASDAQ:POET)’s share price was down 5.7% during trading on Monday . The company traded as low as $6.39 and last traded at $6.56. Approximately 1,422,273 shares changed hands during trading, an increase of 18% from the average daily volume of 1,206,611 shares. The stock had previously closed at $6.96.

Analyst Upgrades and Downgrades

POET has been the topic of a number of research analyst reports. Northland Securities reaffirmed an “outperform” rating and issued a $7.00 target price (up from $6.00) on shares of POET Technologies in a report on Monday, December 2nd. Craig Hallum boosted 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 raised POET Technologies to a “strong-buy” rating in a report on Monday, November 18th.

POET Technologies Price Performance

The business’s fifty day moving average price is $4.49 and its 200-day moving average price is $3.59. The stock has a market capitalization of $491.81 million, a price-to-earnings ratio of -10.90 and a beta of 0.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in POET Technologies during the 3rd quarter worth approximately $54,000. Quadrature Capital Ltd purchased a new stake in shares of POET Technologies during the third quarter worth about $112,000. Centiva Capital LP bought a new stake in shares of POET Technologies in the third quarter worth about $134,000. XTX Topco Ltd bought a new position in POET Technologies during the 3rd quarter valued at approximately $178,000. Finally, Virtu Financial LLC purchased a new stake in POET Technologies in the 3rd quarter worth approximately $319,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.