POET Technologies Sees Unusually Large Options Volume (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of unusually large options trading activity on Monday. Stock traders bought 7,879 call options on the company. This is an increase of approximately 158% compared to the typical volume of 3,056 call options.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Northland Securities reissued an “outperform” rating and issued a $7.00 price target (up previously from $6.00) on shares of POET Technologies in a research note on Monday. Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Craig Hallum upped their price objective on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research note on Friday, November 22nd.

POET Technologies Stock Up 5.5 %

Shares of POET Technologies stock traded up $0.30 during trading on Monday, reaching $5.71. The company’s stock had a trading volume of 723,641 shares, compared to its average volume of 1,020,610. POET Technologies has a 52-week low of $0.77 and a 52-week high of $5.83. The company has a market cap of $404.38 million, a price-to-earnings ratio of -9.17 and a beta of 0.33. The firm’s 50-day moving average is $4.12 and its two-hundred day moving average is $3.13.

Institutional Investors Weigh In On POET Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POET. Tyler Stone Wealth Management raised its holdings in POET Technologies by 234.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 271,000 shares of the company’s stock valued at $1,203,000 after buying an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC raised its holdings in POET Technologies by 92.8% during the 3rd quarter. SevenBridge Financial Group LLC now owns 118,709 shares of the company’s stock valued at $527,000 after buying an additional 57,125 shares during the last quarter. Centiva Capital LP bought a new stake in POET Technologies during the 3rd quarter valued at $134,000. Quadrature Capital Ltd bought a new stake in POET Technologies during the 3rd quarter valued at $112,000. Finally, XTX Topco Ltd bought a new stake in POET Technologies during the 3rd quarter valued at $178,000. 1.99% of the stock is currently owned by institutional investors.

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.