POET Technologies (CVE:PTK) Shares Up 15.9% - Here's What Happened

POET Technologies Inc. (CVE:PTK - Get Free Report)'s share price rose 15.9% during mid-day trading on Tuesday . The stock traded as high as C$8.09 and last traded at C$8.09. Approximately 199,655 shares changed hands during trading, an increase of 42% from the average daily volume of 141,042 shares. The stock had previously closed at C$6.98.

Analysts Set New Price Targets

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

POET Technologies Price Performance

The firm has a market cap of C$573.50 million, a P/E ratio of -11.29 and a beta of 0.48. The firm's fifty day simple moving average is C$6.08 and its 200 day simple moving average is C$4.82. 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 at POET Technologies

In other news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$7.24, for a total transaction of C$36,219.00. Also, Director James Lee sold 25,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$6.95, for a total transaction of C$173,712.50. 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.