POET Technologies (CVE:PTK) Trading Up 20.5% – Still a Buy?

Shares of POET Technologies Inc. (CVE:PTK) traded up 20.5% during trading on Friday . The company traded as high as C$10.53 and last traded at C$9.93. 290,539 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 142,304 shares. The stock had previously closed at C$8.24.

Analyst Upgrades and Downgrades

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

POET Technologies Trading Up 21.4 %

The firm has a market cap of C$696 million, a P/E ratio of -13.70 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. The business’s 50 day moving average is C$6.27 and its 200-day moving average is C$4.92.

Insider Buying and Selling

In other POET Technologies news, Senior Officer Vivek Rajgarhia sold 5,000 shares of the firm’s 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. 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 value of C$173,712.50. Insiders own 0.82% of the company’s stock.

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.