POET Technologies (CVE:PTK) Stock Price Up 13.6% – Here’s Why

POET Technologies Inc. (CVE:PTK)’s share price shot up 13.6% on Wednesday . The company traded as high as C$7.50 and last traded at C$7.20. 179,399 shares were traded during trading, an increase of 29% from the average session volume of 138,872 shares. The stock had previously closed at C$6.34.

Analyst Upgrades and Downgrades

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

POET Technologies Price Performance

The company has a market capitalization of C$509.47 million, a PE ratio of -10.03 and a beta of 0.48. The stock has a 50 day moving average price of C$5.88 and a two-hundred day moving average price of C$4.62. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71.

Insider Activity

In related news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 POET Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$6.95, for a total transaction of C$173,712.50. Corporate 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.