Craig Hallum Issues Positive Forecast for POET Technologies (NASDAQ:POET) Stock Price

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

Other equities analysts have also recently issued reports about the stock. Northland Securities started coverage on shares of POET Technologies in a research report on Monday, November 18th. They set an "outperform" rating and a $6.00 price objective for the company. Northland Capmk upgraded shares of POET Technologies to a "strong-buy" rating in a research report on Monday, November 18th.

POET Technologies Price Performance

POET stock traded down $0.03 during trading on Friday, reaching $4.01. 1,012,370 shares of the company were exchanged, compared to its average volume of 1,134,713. The company has a 50-day moving average of $3.94 and a two-hundred day moving average of $3.03. The company has a market capitalization of $283.51 million, a price-to-earnings ratio of -6.80 and a beta of 0.33. POET Technologies has a twelve month low of $0.72 and a twelve month high of $5.60.

Institutional Investors Weigh In On POET Technologies

A number of institutional investors have recently added to or reduced their stakes in POET. Tyler Stone Wealth Management grew its holdings in POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company's stock worth $1,203,000 after acquiring an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC boosted its stake in shares of POET Technologies by 92.8% in the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company's stock valued at $527,000 after purchasing an additional 57,125 shares during the last quarter. Centiva Capital LP bought a new stake in shares of POET Technologies in the 3rd quarter valued at $134,000. Quadrature Capital Ltd bought a new stake in shares of POET Technologies in the 3rd quarter valued at $112,000. Finally, XTX Topco Ltd bought a new stake in shares of POET Technologies in the 3rd quarter valued at $178,000. 1.99% of the stock is owned by institutional investors.

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.