POET Technologies (CVE:PTK) Trading Up 21.1% – Here’s Why

Shares of POET Technologies Inc. (CVE:PTK) traded up 21.1% during mid-day trading on Friday . The stock traded as high as C$10.53 and last traded at C$9.98. 293,539 shares traded hands during trading, an increase of 106% from the average session volume of 142,304 shares. The stock had previously closed at C$8.24.

Analyst Upgrades and Downgrades

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

POET Technologies Stock Up 21.8 %

The business has a 50-day moving average price of C$6.19 and a 200-day moving average price of C$4.87. The stock has a market cap of C$698.78 million, a PE ratio of -13.75 and a beta of 0.48. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63.

Insider Transactions at POET Technologies

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