MMCAP International Inc. SPC Has $11.40 Million Stake in POET Technologies Inc. (NASDAQ:POET)

MMCAP International Inc. SPC decreased its holdings in shares of POET Technologies Inc. (NASDAQ:POET) by 59.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,916,144 shares of the company’s stock after selling 2,839,640 shares during the period. POET Technologies accounts for approximately 1.8% of MMCAP International Inc. SPC’s portfolio, making the stock its 15th biggest position. MMCAP International Inc. SPC’s holdings in POET Technologies were worth $11,401,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Tyler Stone Wealth Management grew its position 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 grew 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 acquiring an additional 57,125 shares during the period. Virtu Financial LLC bought a new position in shares of POET Technologies in the 3rd quarter valued at about $319,000. XTX Topco Ltd bought a new position in shares of POET Technologies in the 3rd quarter valued at about $178,000. Finally, Centiva Capital LP bought a new position in shares of POET Technologies in the 3rd quarter valued at about $134,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

POET Technologies Stock Performance

NASDAQ POET opened at $3.97 on Wednesday. The firm has a 50-day moving average of $5.19 and a 200-day moving average of $4.32. The stock has a market cap of $309.80 million, a PE ratio of -6.73 and a beta of 0.38. POET Technologies Inc. has a 52-week low of $1.00 and a 52-week high of $7.79.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on POET shares. Northland Securities reissued an “outperform” rating and issued a $7.00 price objective (up previously from $6.00) on shares of POET Technologies in a research report on Monday, December 2nd. Craig Hallum lifted their price objective 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.