POET Technologies (CVE:PTK) Stock Price Up 13.6% - Here's What Happened

POET Technologies Inc. (CVE:PTK - Get Free Report) was up 13.6% on Wednesday . The company traded as high as C$7.50 and last traded at C$7.20. Approximately 179,399 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 138,872 shares. The stock had previously closed at C$6.34.

Wall Street Analyst Weigh In

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

POET Technologies Stock Performance

The stock's 50-day moving average price is C$5.89 and its 200-day moving average price is C$4.65. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63. The company has a market capitalization of C$483.72 million, a P/E ratio of -9.52 and a beta of 0.48.

Insider Activity

In related news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the stock in a transaction dated 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 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. 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.