POET Technologies (CVE:PTK) Trading Down 2.4% – Here’s What Happened

POET Technologies Inc. (CVE:PTK)’s stock price dropped 2.4% on Tuesday . The company traded as low as C$6.72 and last traded at C$6.81. Approximately 127,502 shares were traded during trading, a decline of 20% from the average daily volume of 158,693 shares. The stock had previously closed at C$6.98.

Wall Street Analyst Weigh In

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

POET Technologies Stock Down 2.4 %

The company has a market capitalization of C$337.16 million, a price-to-earnings ratio of -7.12 and a beta of 0.48. The stock’s fifty day simple moving average is C$7.43 and its two-hundred day simple moving average is C$5.94. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.20 and a quick ratio of 5.08.

Insiders Place Their Bets

In related news, Director James Lee sold 25,000 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total transaction of C$36,219.00. Over the last three months, insiders have sold 35,000 shares of company stock valued at $257,614. Company 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.