POET Technologies (CVE:PTK) Stock Price Up 1% - Here's Why

POET Technologies Inc. (CVE:PTK - Get Free Report) shot up 1% during mid-day trading on Tuesday . The stock traded as high as C$7.10 and last traded at C$6.86. 119,914 shares were traded during mid-day trading, a decline of 27% from the average session volume of 163,977 shares. The stock had previously closed at C$6.79.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Up 1.0 %

The firm has a market capitalization of C$477.46 million, a PE ratio of -9.40 and a beta of 0.48. The company has a quick ratio of 5.08, a current ratio of 6.71 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of C$7.36 and a 200-day moving average price of C$5.67.

Insider Buying and Selling at POET Technologies

In related news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the business's stock in a transaction 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. Also, Director James Lee sold 25,000 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$6.95, for a total value of C$173,712.50. Insiders sold a total of 35,000 shares of company stock worth $257,614 over the last three months. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.