POET Technologies (CVE:PTK) Trading Up 21.8% – Should You Buy?

Shares of POET Technologies Inc. (CVE:PTK) traded up 21.8% during trading on Friday . The stock traded as high as C$10.53 and last traded at C$10.04. 372,762 shares traded hands during trading, an increase of 161% from the average session volume of 142,724 shares. The stock had previously closed at C$8.24.

Analysts Set New Price Targets

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

POET Technologies Price Performance

The stock has a 50-day moving average price of C$6.19 and a two-hundred day moving average price of C$4.87. The stock has a market cap of C$684.17 million, a price-to-earnings ratio of -13.47 and a beta of 0.48. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63.

Insider Activity

In related news, Director James Lee sold 25,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of C$6.95, for a total value of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of the 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 transaction of C$36,219.00. Corporate insiders own 0.82% of the company’s stock.

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.