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POET Technologies (CVE:PTK) Trading 21.8% Higher - What's Next?

POET Technologies logo with Computer and Technology background

POET Technologies Inc. (CVE:PTK - Get Free Report) shot up 21.8% during mid-day trading on Friday . The stock traded as high as C$10.53 and last traded at C$10.04. 372,762 shares were traded during mid-day 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 upgraded POET Technologies to a "strong-buy" rating in a report on Monday, November 18th.

Read Our Latest Stock Report on PTK

POET Technologies Price Performance

The company has a debt-to-equity ratio of 1.63, a current ratio of 6.71 and a quick ratio of 5.08. The stock has a market capitalization of C$696 million, a price-to-earnings ratio of -13.70 and a beta of 0.48. The stock has a 50 day moving average price of C$6.19 and a 200-day moving average price of C$4.87.

Insider Activity

In other POET Technologies news, Director James Lee sold 25,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was 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 POET Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total value of C$36,219.00. Company insiders own 0.82% of the company's stock.

About POET Technologies

(Get Free Report)

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.

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