POET Technologies (CVE:PTK) Trading 6.2% Higher – What’s Next?

POET Technologies Inc. (CVE:PTK)’s stock price was up 6.2% during trading on Wednesday . The stock traded as high as C$5.40 and last traded at C$5.30. Approximately 144,451 shares changed hands during trading, a decline of 8% from the average daily volume of 157,312 shares. The stock had previously closed at C$4.99.

Analysts Set New Price Targets

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

POET Technologies Price Performance

The stock has a market cap of C$262.40 million, a PE ratio of -5.54 and a beta of 0.48. The company has a quick ratio of 5.08, a current ratio of 2.20 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average is C$6.86 and its 200 day moving average is C$6.15.

Insider Activity

In other news, Director James Lee sold 5,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of C$9.54, for a total value of C$47,682.00. 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.