Insider Selling: POET Technologies (CVE:PTK) Director Sells C$82,071.48 in Stock

POET Technologies Inc. (CVE:PTK) Director Sohail Khan sold 9,924 shares of POET Technologies stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of C$8.27, for a total value of C$82,071.48. Following the transaction, the director owned 11,276 shares of the company’s stock, valued at approximately C$93,252.52. This represents a 46.81% decrease in their ownership of the stock.

POET Technologies Trading Down 1.5%

Shares of CVE:PTK opened at C$7.38 on Thursday. The company has a current ratio of 1.89, a quick ratio of 5.08 and a debt-to-equity ratio of 14.84. POET Technologies Inc. has a 12-month low of C$3.57 and a 12-month high of C$10.53. The business has a 50 day moving average of C$7.38 and a two-hundred day moving average of C$7.38. The company has a market capitalization of C$669.51 million, a PE ratio of -9.11 and a beta of 0.82.

Analyst Upgrades and Downgrades

Separately, Singular Research upgraded shares of POET Technologies to a “strong-buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

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. It also develops photonic integrated components. The company serves the data center, telecommunications, Internet of things and industrial sensing, automotive LIDAR, optical coherence tomography for medical devices, and virtual reality systems markets.