POET Technologies (CVE:PTK) Shares Up 15.9% – Here’s What Happened

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

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 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’s 50 day moving average price is C$6.02 and its two-hundred day moving average price is C$4.78. The company has a market cap of C$573.50 million, a P/E ratio of -11.29 and a beta of 0.48.

Insider Activity at POET Technologies

In other POET Technologies news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the business’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. Also, Director James Lee sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of C$6.95, for a total value of C$173,712.50. 0.82% of the stock is currently owned by corporate insiders.

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. 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.