Virtu Financial LLC Makes New $319,000 Investment in POET Technologies Inc. (NASDAQ:POET)

Virtu Financial LLC bought a new stake in POET Technologies Inc. (NASDAQ:POET) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 71,755 shares of the company’s stock, valued at approximately $319,000. Virtu Financial LLC owned approximately 0.10% of POET Technologies at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Toronto Dominion Bank purchased a new stake in POET Technologies in the third quarter valued at $54,000. Quadrature Capital Ltd acquired a new stake in shares of POET Technologies during the third quarter worth about $112,000. Centiva Capital LP acquired a new stake in shares of POET Technologies during the third quarter worth about $134,000. XTX Topco Ltd purchased a new stake in shares of POET Technologies in the 3rd quarter valued at about $178,000. Finally, SevenBridge Financial Group LLC boosted its position 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 purchasing an additional 57,125 shares during the period. Institutional investors and hedge funds own 1.99% of the company’s stock.

POET Technologies Trading Up 7.8 %

POET Technologies stock opened at $4.58 on Tuesday. The stock has a 50 day moving average of $4.21 and a two-hundred day moving average of $3.36. POET Technologies Inc. has a twelve month low of $0.77 and a twelve month high of $5.83. The stock has a market capitalization of $350.23 million, a price-to-earnings ratio of -7.76 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several research firms have commented on POET. Northland Securities reaffirmed an “outperform” rating and set a $7.00 price target (up previously from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd. Craig Hallum upped their price target on shares of POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

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.