41,000 Shares in POET Technologies Inc. (NASDAQ:POET) Bought by BluePointe Capital Management LLC

BluePointe Capital Management LLC acquired a new stake in POET Technologies Inc. (NASDAQ:POET) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,000 shares of the company’s stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. HB Wealth Management LLC acquired a new position in POET Technologies during the 4th quarter worth approximately $89,000. XTX Topco Ltd acquired a new position in POET Technologies during the third quarter worth $178,000. Centiva Capital LP purchased a new position in POET Technologies in the third quarter worth $134,000. Toronto Dominion Bank acquired a new stake in POET Technologies in the third quarter valued at $54,000. Finally, Defender Capital LLC. purchased a new stake in shares of POET Technologies during the 4th quarter worth $61,000. 1.99% of the stock is currently owned by institutional investors and hedge funds.

POET Technologies Stock Performance

POET opened at $3.87 on Thursday. The company has a market cap of $302.13 million, a price-to-earnings ratio of -6.56 and a beta of 0.60. POET Technologies Inc. has a one year low of $1.00 and a one year high of $7.79. The business’s fifty day moving average is $4.50 and its two-hundred day moving average is $4.40.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on POET shares. Northland Securities reiterated an “outperform” rating and issued a $7.00 price target (up previously from $6.00) on shares of POET Technologies in a report on Monday, December 2nd. Craig Hallum increased 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.

POET Technologies 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.