POET Technologies (CVE:PTK) Trading Up 18.1% – Here’s Why

POET Technologies Inc. (CVE:PTK)’s stock price shot up 18.1% during trading on Wednesday . The company traded as high as C$8.43 and last traded at C$8.24. 322,979 shares traded hands during mid-day trading, an increase of 128% from the average session volume of 141,842 shares. The stock had previously closed at C$6.98.

Wall Street Analyst Weigh In

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

POET Technologies Stock Performance

The company has a 50 day simple moving average of C$6.08 and a 200-day simple moving average of C$4.82. The company has a debt-to-equity ratio of 1.63, a current ratio of 6.71 and a quick ratio of 5.08. The stock 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 value of C$36,219.00. Also, Director James Lee sold 25,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$6.95, for a total transaction of C$173,712.50. 0.82% of the stock is currently owned by insiders.

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.