SevenBridge Financial Group LLC Increases Stock Position in POET Technologies Inc. (NASDAQ:POET)

SevenBridge Financial Group LLC grew its stake in POET Technologies Inc. (NASDAQ:POET) by 92.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 118,709 shares of the company’s stock after acquiring an additional 57,125 shares during the period. SevenBridge Financial Group LLC owned about 0.17% of POET Technologies worth $527,000 as of its most recent filing with the SEC.

Separately, Tyler Stone Wealth Management boosted its stake in shares of POET Technologies by 234.6% in the third 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 period. Institutional investors and hedge funds own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on POET shares. Northland Securities started coverage on shares of POET Technologies in a research note on Monday, November 18th. They set an “outperform” rating and a $6.00 target price on the stock. Northland Capmk raised POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Craig Hallum lifted their target price on POET Technologies from $3.50 to $5.50 and gave the company a “buy” rating in a report on Friday.

POET Technologies Stock Down 0.7 %

Shares of POET Technologies stock opened at $4.01 on Friday. POET Technologies Inc. has a 52-week low of $0.72 and a 52-week high of $5.60. The company has a market capitalization of $283.51 million, a P/E ratio of -6.80 and a beta of 0.33. The company has a 50 day moving average of $3.94 and a 200 day moving average of $3.03.

About POET Technologies

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.