POET Technologies (CVE:PTK) Stock Price Down 9.2% – Here’s Why

POET Technologies Inc. (CVE:PTK)’s share price dropped 9.2% during trading on Thursday . The stock traded as low as C$6.17 and last traded at C$6.20. Approximately 90,864 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 136,736 shares. The stock had previously closed at C$6.83.

Analysts Set New Price Targets

Separately, Northland Capmk raised POET Technologies to a “strong-buy” rating in a research report on Monday, November 18th.

POET Technologies Trading Down 2.1 %

The business’s 50-day simple moving average is C$5.88 and its two-hundred day simple moving average is C$4.57. The firm has a market capitalization of C$421.78 million, a price-to-earnings ratio of -8.30 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.

Insider Buying and Selling

In related news, Director James Lee sold 25,000 shares of the 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. 0.82% of the stock is currently owned by corporate insiders.

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.