20,000 Shares in POET Technologies Inc. (NASDAQ:POET) Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC purchased a new stake in shares of POET Technologies Inc. (NASDAQ:POET) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,000 shares of the company’s stock, valued at approximately $119,000.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank bought a new stake in POET Technologies during the third quarter valued at about $54,000. HB Wealth Management LLC purchased a new stake in shares of POET Technologies during the fourth quarter worth about $89,000. 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 POET Technologies during the 3rd quarter valued at approximately $134,000. Finally, XTX Topco Ltd purchased a new position in POET Technologies in the 3rd quarter worth approximately $178,000. 1.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on POET shares. Craig Hallum increased 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. Northland Securities reaffirmed an “outperform” rating and set a $7.00 target price (up from $6.00) on shares of POET Technologies in a research note on Monday, December 2nd. Finally, Northland Capmk upgraded shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th.

POET Technologies Price Performance

NASDAQ:POET opened at $4.77 on Monday. The company has a market cap of $365.33 million, a price-to-earnings ratio of -8.08 and a beta of 0.41. POET Technologies Inc. has a 1 year low of $1.00 and a 1 year high of $7.79. The stock’s 50 day simple moving average is $5.23 and its two-hundred day simple moving average is $4.09.

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.