POET Technologies (CVE:PTK) Shares Up 20.5% – Here’s Why

POET Technologies Inc. (CVE:PTK)’s share price rose 20.5% during trading on Friday . The company traded as high as C$10.53 and last traded at C$9.93. Approximately 290,539 shares were traded during trading, an increase of 104% from the average daily volume of 142,304 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 Price Performance

The company has a market cap of C$696 million, a price-to-earnings ratio of -13.70 and a beta of 0.48. The company has a fifty day simple moving average of C$6.27 and a two-hundred day simple moving average of C$4.92. The company has a quick ratio of 5.08, a current ratio of 6.71 and a debt-to-equity ratio of 1.63.

Insiders Place Their Bets

In other news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the business’s stock in a transaction that occurred on 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 the company’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 transaction 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.