POET Technologies (CVE:PTK) Shares Up 18.1% – Here’s Why

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

Analysts Set New Price Targets

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

POET Technologies Price Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71. The stock has a market capitalization of C$573.50 million, a price-to-earnings ratio of -11.29 and a beta of 0.48. The business’s 50 day simple moving average is C$6.08 and its 200-day simple moving average is C$4.82.

Insiders Place Their Bets

In other POET Technologies news, Director James Lee sold 25,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were 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 firm’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. 0.82% of the stock is owned by company insiders.

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.