POET Technologies (NASDAQ:POET) Shares Gap Up - What's Next?

Key Points

• POET Technologies shares gapped up premarket, opening at $5.39 versus a prior close of $5.08 and last trading at $5.4110 on volume of about 2.43 million shares.
• Analysts show a consensus Sell rating with an average target of $8.00; Northland set an $8 target while Weiss Ratings reaffirmed a "sell (d-)" recommendation.
• Several institutions (Private Advisor Group, Raymond James, Desjardins, Quadrature, Jump Financial) added or increased positions recently, yet only about 1.99% of the stock is held by hedge funds and other institutional investors.

POET Technologies Inc. (NASDAQ:POET - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.08, but opened at $5.39. POET Technologies shares last traded at $5.4110, with a volume of 2,430,734 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Northland Securities set a $8.00 price objective on POET Technologies in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of POET Technologies in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell" and an average target price of $8.00.

POET Technologies Stock Performance

The stock has a market capitalization of $712.25 million, a P/E ratio of -7.59 and a beta of 0.36. The firm has a 50-day moving average price of $6.24 and a 200 day moving average price of $6.33.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Private Advisor Group LLC bought a new stake in shares of POET Technologies in the 4th quarter worth approximately $2,707,000. Raymond James Financial Inc. grew its holdings in shares of POET Technologies by 75.1% during the 3rd quarter. Raymond James Financial Inc. now owns 413,333 shares of the company's stock valued at $2,290,000 after purchasing an additional 177,341 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of POET Technologies during the 2nd quarter valued at $855,000. Federation des caisses Desjardins du Quebec raised its position in POET Technologies by 33.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 618,604 shares of the company's stock worth $3,910,000 after purchasing an additional 155,428 shares during the period. Finally, Jump Financial LLC bought a new stake in POET Technologies in the second quarter worth $619,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

About POET Technologies

POET Technologies Inc is a Canadian fabless semiconductor company focused on the development and commercialization of integrated silicon photonics platforms. Leveraging proprietary POET Optical Interposer™ technology, the company designs and manufactures optical input/output (I/O) solutions that enable high-bandwidth, low-power data transmission between electronic chips and fiber-optic networks. By integrating optical waveguides, lasers, detectors and electronic drivers onto a single chip, POET aims to address the growing demand for faster, more energy-efficient data connectivity in telecommunications, data centers and high-performance computing applications.

The company’s core products include silicon photonics interposer arrays, active optical cables and optical transceiver modules.

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