POET Technologies (CVE:PTK) Trading Up 12.8% – Here’s Why

POET Technologies Inc. (CVE:PTK) shares rose 12.8% during mid-day trading on Thursday . The company traded as high as C$6.43 and last traded at C$6.24. Approximately 81,106 shares changed hands during trading, a decline of 46% from the average daily volume of 149,759 shares. The stock had previously closed at C$5.53.

POET Technologies Stock Performance

The company has a debt-to-equity ratio of 1.20, a quick ratio of 5.08 and a current ratio of 2.20. The firm’s 50 day simple moving average is C$6.48 and its 200 day simple moving average is C$6.19. The firm has a market capitalization of C$298.54 million, a price-to-earnings ratio of -6.30 and a beta of 0.48.

Insider Transactions at POET Technologies

In related news, Director James Lee sold 5,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of C$9.54, for a total value of C$47,682.00. Company 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.