POET Technologies (CVE:PTK) Shares Up 15.9% – Should You Buy?

POET Technologies Inc. (CVE:PTK) shot up 15.9% on Tuesday . The stock traded as high as C$8.09 and last traded at C$8.09. 199,655 shares were traded during trading, an increase of 42% from the average session volume of 141,042 shares. The stock had previously closed at C$6.98.

Wall Street Analysts Forecast Growth

Separately, Northland Capmk raised POET Technologies to a “strong-buy” rating in a report on Monday, November 18th.

POET Technologies Trading Up 18.1 %

The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71. The firm has a market cap of C$573.50 million, a P/E ratio of -11.29 and a beta of 0.48. The business’s fifty day moving average is C$6.02 and its 200-day moving average is C$4.78.

Insider Activity

In related news, Director James Lee sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$6.95, for a total value of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total transaction of C$36,219.00. Insiders own 0.82% of the company’s stock.

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. The company 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.