POET Technologies Target of Unusually High Options Trading (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the target of some unusual options trading 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.

POET Technologies Stock Down 8.5 %

POET opened at $4.95 on Tuesday. POET Technologies has a 52 week low of $0.77 and a 52 week high of $5.83. The stock has a market cap of $350.58 million, a PE ratio of -8.39 and a beta of 0.33. The business has a 50 day moving average of $4.12 and a 200-day moving average of $3.13.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on POET. Northland Securities reiterated an “outperform” rating and issued a $7.00 price objective (up from $6.00) on shares of POET Technologies in a research report on Monday. Craig Hallum lifted their price target 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 upgraded shares of POET Technologies to a “strong-buy” rating in a report on Monday, November 18th.

Hedge Funds Weigh In On POET Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tyler Stone Wealth Management lifted its position 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 acquiring an additional 190,000 shares during the period. 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 worth $527,000 after purchasing an additional 57,125 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of POET Technologies in the 3rd quarter worth approximately $319,000. XTX Topco Ltd bought a new position in POET Technologies during the 3rd quarter valued at approximately $178,000. Finally, Centiva Capital LP purchased a new position in POET Technologies during the third quarter valued at $134,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.