BluePointe Capital Management LLC Invests $244,000 in POET Technologies Inc. (NASDAQ:POET)

BluePointe Capital Management LLC bought a new position in shares of POET Technologies Inc. (NASDAQ:POET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,000 shares of the company’s stock, valued at approximately $244,000. BluePointe Capital Management LLC owned about 0.05% of POET Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in POET. SevenBridge Financial Group LLC lifted its position in shares of POET Technologies by 92.8% during the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock worth $527,000 after buying an additional 57,125 shares during the last quarter. Centiva Capital LP acquired a new stake in POET Technologies during the 3rd quarter worth $134,000. Quadrature Capital Ltd acquired a new stake in POET Technologies during the 3rd quarter worth $112,000. XTX Topco Ltd purchased a new stake in POET Technologies in the third quarter valued at $178,000. Finally, Toronto Dominion Bank acquired a new position in POET Technologies in the third quarter valued at $54,000. 1.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on POET shares. Craig Hallum lifted their target price on POET Technologies from $3.50 to $5.50 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Northland Securities restated an “outperform” rating and set a $7.00 price target (up previously from $6.00) on shares of POET Technologies in a research note on Monday, December 2nd.

POET Technologies Price Performance

POET stock opened at $3.87 on Thursday. POET Technologies Inc. has a 12 month low of $1.00 and a 12 month high of $7.79. The company has a market cap of $302.13 million, a price-to-earnings ratio of -6.56 and a beta of 0.60. The company has a fifty day moving average price of $4.50 and a 200 day moving average price of $4.40.

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.