POET Technologies (CVE:PTK) Trading Up 17.6% – Here’s What Happened

POET Technologies Inc. (CVE:PTK)’s stock price was up 17.6% during trading on Tuesday . The company traded as high as C$8.21 and last traded at C$8.21. Approximately 226,137 shares traded hands during trading, an increase of 60% from the average daily volume of 141,347 shares. The stock had previously closed at C$6.98.

Wall Street Analysts Forecast Growth

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

POET Technologies Trading Up 18.1 %

The stock has a market cap of C$573.50 million, a PE ratio of -11.29 and a beta of 0.48. The stock has a fifty day moving average price of C$6.02 and a 200 day moving average price of C$4.78. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71.

Insiders Place Their Bets

In other news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the firm’s stock in a transaction that occurred 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 stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$6.95, for a total transaction of C$173,712.50. 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.