Glen Riley Sells 10,892 Shares of POET Technologies (CVE:PTK) Stock

POET Technologies Inc. (CVE:PTK) Director Glen Riley sold 10,892 shares of POET Technologies stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of C$13.33, for a total transaction of C$145,190.36. Following the completion of the sale, the director owned 31,962 shares of the company’s stock, valued at approximately C$426,053.46. The trade was a 25.42% decrease in their ownership of the stock.

POET Technologies Price Performance

PTK traded down C$0.11 on Monday, hitting C$7.38. 152,071 shares of the stock were exchanged, compared to its average volume of 156,992. The business has a 50-day moving average of C$7.38 and a two-hundred day moving average of C$7.38. The firm has a market capitalization of C$669.51 million, a price-to-earnings ratio of -9.11 and a beta of 0.82. The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08. POET Technologies Inc. has a 12 month low of C$3.57 and a 12 month high of C$10.53.

Analysts Set New Price Targets

Separately, Singular Research upgraded POET Technologies to a “strong-buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

POET Technologies Company Profile

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. It also develops photonic integrated components. The company serves the data center, telecommunications, Internet of things and industrial sensing, automotive LIDAR, optical coherence tomography for medical devices, and virtual reality systems markets.