POET Technologies (CVE:PTK) Stock Price Up 24% – Here’s What Happened

Shares of POET Technologies Inc. (CVE:PTK) traded up 24% during mid-day trading on Friday . The company traded as high as C$10.53 and last traded at C$10.22. 338,099 shares were traded during mid-day trading, an increase of 137% from the average session volume of 142,552 shares. The stock had previously closed at C$8.24.

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 Up 20.8 %

The firm has a 50-day moving average price of C$6.19 and a 200-day moving average price of C$4.87. 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 stock has a market capitalization of C$692.52 million, a PE ratio of -13.63 and a beta of 0.48.

Insider Transactions at POET Technologies

In other POET Technologies news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the stock in a transaction that occurred 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. Also, Director James Lee sold 25,000 shares of the business’s 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. 0.82% of the stock is currently owned by company insiders.

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.