POET Technologies (CVE:PTK) Stock Price Up 1% – Here’s Why

POET Technologies Inc. (CVE:PTK) shot up 1% during mid-day trading on Tuesday . The stock traded as high as C$7.10 and last traded at C$6.86. 119,914 shares were traded during mid-day trading, a decline of 27% from the average session volume of 163,977 shares. The stock had previously closed at C$6.79.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Up 1.0 %

The firm has a market capitalization of C$477.46 million, a PE ratio of -9.40 and a beta of 0.48. The company has a quick ratio of 5.08, a current ratio of 6.71 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of C$7.36 and a 200-day moving average price of C$5.67.

Insider Buying and Selling at POET Technologies

In related news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the business’s stock in a transaction 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 company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$6.95, for a total value of C$173,712.50. Insiders sold a total of 35,000 shares of company stock worth $257,614 over the last three months. 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.