POET Technologies (NASDAQ:POET) Price Target Raised to $5.50 at Craig Hallum

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

POET has been the topic of a number of other research reports. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Northland Securities assumed coverage on shares of POET Technologies in a research note on Monday, November 18th. They set an “outperform” rating and a $6.00 price target on the stock.

POET Technologies Stock Performance

Shares of NASDAQ POET 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 price is $3.94 and its 200 day moving average price is $3.03.

Hedge Funds Weigh In On POET Technologies

A number of hedge funds have recently made changes to their positions in the business. Tyler Stone Wealth Management raised its stake in shares of POET Technologies by 234.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after acquiring an additional 190,000 shares during the period. SevenBridge Financial Group LLC raised 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 acquiring an additional 57,125 shares during the period. Virtu Financial LLC purchased a new position in shares of POET Technologies in the 3rd quarter valued at $319,000. XTX Topco Ltd purchased a new position in shares of POET Technologies in the 3rd quarter valued at $178,000. Finally, Centiva Capital LP purchased a new position in shares of POET Technologies in the 3rd quarter valued at $134,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.