Defender Capital LLC. Purchases New Position in POET Technologies Inc. (NASDAQ:POET)

Defender Capital LLC. purchased a new stake in POET Technologies Inc. (NASDAQ:POET) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,170 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds also recently made changes to their positions in POET. Tyler Stone Wealth Management grew 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 purchasing an additional 190,000 shares during the last quarter. SevenBridge Financial Group LLC boosted its holdings in POET Technologies by 92.8% during the third 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. Centiva Capital LP acquired a new stake in shares of POET Technologies in the 3rd quarter worth approximately $134,000. Quadrature Capital Ltd purchased a new position in shares of POET Technologies in the third quarter valued at $112,000. Finally, XTX Topco Ltd acquired a new position in POET Technologies during the third quarter worth about $178,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

POET Technologies Price Performance

POET Technologies stock opened at $4.57 on Thursday. POET Technologies Inc. has a 52 week low of $1.00 and a 52 week high of $7.79. The company’s 50-day moving average price is $5.19 and its two-hundred day moving average price is $4.07.

Wall Street Analysts Forecast Growth

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