POET Technologies (NASDAQ:POET) Given New $5.50 Price Target at Craig Hallum

POET Technologies (NASDAQ:POET) had its target price increased by Craig Hallum from $3.50 to $5.50 in a research note published on Friday,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Northland Securities assumed coverage on POET Technologies in a research note on Monday, November 18th. They set an “outperform” rating and a $6.00 price objective for the company.

POET Technologies Stock Performance

POET Technologies stock opened at $4.01 on Friday. POET Technologies has a 1 year low of $0.72 and a 1 year high of $5.60. The firm’s 50-day moving average is $3.94 and its 200-day moving average is $3.03.

Institutional Trading of POET Technologies

Several large investors have recently added to or reduced their stakes in POET. Toronto Dominion Bank bought a new position in shares of POET Technologies in the third quarter worth $54,000. Quadrature Capital Ltd bought a new position in POET Technologies in the 3rd quarter valued at about $112,000. Centiva Capital LP acquired a new position in POET Technologies during the 3rd quarter valued at about $134,000. XTX Topco Ltd acquired a new position in POET Technologies during the 3rd quarter valued at about $178,000. Finally, SevenBridge Financial Group LLC raised 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 in the last quarter. 1.99% of the stock is currently owned by institutional investors and hedge funds.

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.