POET Technologies (CVE:PTK) Trading Down 2.4% – Here’s What Happened

POET Technologies Inc. (CVE:PTK)’s share price was down 2.4% during trading on Tuesday . The stock traded as low as C$6.72 and last traded at C$6.81. Approximately 127,502 shares were traded during trading, a decline of 20% from the average daily volume of 158,693 shares. The stock had previously closed at C$6.98.

Wall Street Analysts Forecast Growth

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

POET Technologies Stock Performance

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’s 50-day moving average price is C$7.43 and its two-hundred day moving average price is C$5.94. The company has a market cap of C$337.16 million, a P/E ratio of -7.12 and a beta of 0.48.

Insider Activity

In other POET Technologies news, Director James Lee sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$6.95, for a total value of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total transaction of C$36,219.00. In the last quarter, insiders sold 35,000 shares of company stock worth $257,614. Corporate insiders own 0.82% of the company’s stock.

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.