POET Technologies (CVE:PTK) Stock Falls 1.5% – Here’s Why

POET Technologies Inc. (CVE:PTK) dropped 1.5% on Tuesday. The stock traded as low as C$7.29 and last traded at C$7.38. Approximately 152,071 shares changed hands during trading, a decline of 3% from the average session volume of 156,992 shares. The stock had previously closed at C$7.49.

Wall Street Analysts Forecast Growth

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

POET Technologies Price Performance

The business’s fifty day moving average price is C$7.38 and its 200 day moving average price is C$7.38. The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08. The stock has a market cap of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82.

Insider Buying and Selling

In other POET Technologies news, Director Sohail Khan sold 9,924 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of C$8.27, for a total value of C$82,071.48. Following the sale, the director owned 11,276 shares in the company, valued at C$93,252.52. This trade represents a 46.81% decrease in their ownership of the stock. Also, Director Glen Riley sold 10,892 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of C$13.33, for a total transaction of C$145,190.36. Following the transaction, the director owned 31,962 shares of the company’s stock, valued at C$426,053.46. This trade represents a 25.42% decrease in their ownership of the stock. 0.82% of the stock is owned by corporate 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. 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.