POET Technologies (CVE:PTK) Trading 6.2% Higher – Time to Buy?

POET Technologies Inc. (CVE:PTK) shot up 6.2% during trading on Wednesday . The company traded as high as C$5.40 and last traded at C$5.30. 144,451 shares traded hands during trading, a decline of 8% from the average session volume of 157,312 shares. The stock had previously closed at C$4.99.

Analyst Upgrades and Downgrades

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

POET Technologies Trading Up 6.2 %

The business has a 50 day simple moving average of C$6.86 and a two-hundred day simple moving average of C$6.15. The company has a current ratio of 2.20, a quick ratio of 5.08 and a debt-to-equity ratio of 1.20. The company has a market cap of C$262.40 million, a PE ratio of -5.54 and a beta of 0.48.

Insider Buying and Selling

In related news, Director James Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of C$9.54, for a total value of C$47,682.00. 0.82% of the stock is currently owned by company 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.