POET Technologies (NASDAQ:POET) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of POET Technologies (NASDAQ:POET) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities analysts also recently commented on POET. Northland Securities began coverage on shares of POET Technologies in a research note on Monday. They set an “outperform” rating and a $6.00 target price on the stock. Craig Hallum lifted their target price on shares of POET Technologies from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

POET Technologies Price Performance

Shares of POET stock opened at $4.01 on Monday. The firm’s 50-day moving average is $3.92 and its two-hundred day moving average is $3.01. POET Technologies has a 12 month low of $0.72 and a 12 month high of $5.60. The company has a market capitalization of $283.61 million, a PE ratio of -6.80 and a beta of 0.33.

Institutional Investors Weigh In On POET Technologies

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank acquired a new stake in shares of POET Technologies during the third quarter valued at about $54,000. Quadrature Capital Ltd acquired a new stake in shares of POET Technologies during the third quarter valued at about $112,000. Centiva Capital LP acquired a new stake in shares of POET Technologies during the third quarter valued at about $134,000. XTX Topco Ltd acquired a new stake in shares of POET Technologies during the third quarter valued at about $178,000. Finally, Virtu Financial LLC acquired a new stake in shares of POET Technologies during the third quarter valued at about $319,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.