POET Technologies (CVE:PTK) Trading Down 2.4% - Here's Why

POET Technologies Inc. (CVE:PTK - Get Free Report) shares fell 2.4% during trading on Tuesday . The company traded as low as C$6.72 and last traded at C$6.81. 127,502 shares changed hands during trading, a decline of 20% from the average session volume of 158,693 shares. The stock had previously closed at C$6.98.

Wall Street Analysts Forecast Growth

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

POET Technologies Trading Down 4.8 %

The firm has a market capitalization of C$315.87 million, a PE ratio of -6.67 and a beta of 0.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.20 and a quick ratio of 5.08. The company has a fifty day moving average of C$7.44 and a 200-day moving average of C$5.99.

Insider Transactions at POET Technologies

In other news, 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 transaction of C$173,712.50. Also, 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. Insiders sold 35,000 shares of company stock valued at $257,614 in the last three months. 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.