POET Technologies (CVE:PTK) Trading 13.6% Higher – Still a Buy?

POET Technologies Inc. (CVE:PTK) rose 13.6% on Wednesday . The company traded as high as C$7.50 and last traded at C$7.20. Approximately 179,399 shares traded hands during trading, an increase of 29% from the average daily volume of 138,872 shares. The stock had previously closed at C$6.34.

Wall Street Analysts Forecast Growth

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

POET Technologies Trading Down 0.3 %

The stock has a market capitalization of C$482.33 million, a P/E ratio of -9.49 and a beta of 0.48. The stock’s fifty day moving average price is C$5.96 and its two-hundred day moving average price is C$4.68. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63.

Insider Buying and Selling

In related news, Director James Lee sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$6.95, for a total transaction of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of POET Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total value of C$36,219.00. 0.82% of the stock is owned by corporate 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.