POET Technologies (CVE:PTK) Trading Up 19.9% – Here’s Why

POET Technologies Inc. (CVE:PTK)’s stock price was up 19.9% during mid-day trading on Thursday . The company traded as high as C$6.64 and last traded at C$6.63. Approximately 165,609 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 151,659 shares. The stock had previously closed at C$5.53.

POET Technologies Price Performance

The company has a market capitalization of C$298.05 million, a price-to-earnings ratio of -6.29 and a beta of 0.48. The stock has a fifty day simple moving average of C$6.48 and a 200-day simple moving average of C$6.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.20 and a quick ratio of 5.08.

Insider Activity

In related news, Director James Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$9.54, for a total transaction of C$47,682.00. Company insiders own 0.82% of the company’s stock.

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.