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

Shares of POET Technologies Inc. (CVE:PTK) were up 18.1% on Wednesday . The company traded as high as C$8.43 and last traded at C$8.24. Approximately 322,979 shares changed hands during trading, an increase of 128% from the average daily volume of 141,842 shares. The stock had previously closed at C$6.98.

Analysts Set New Price Targets

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

POET Technologies Stock Up 18.1 %

The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63. The company has a market cap of C$573.50 million, a P/E ratio of -11.29 and a beta of 0.48. The firm’s 50 day moving average price is C$6.13 and its 200-day moving average price is C$4.84.

Insiders Place Their Bets

In other POET Technologies news, Director James Lee sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$6.95, for a total transaction of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total value of C$36,219.00. 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.