POET Technologies (CVE:PTK) Shares Down 1.5% – Should You Sell?

POET Technologies Inc. (CVE:PTKGet Free Report) shares traded down 1.5% during mid-day trading on Thursday . The stock traded as low as C$7.29 and last traded at C$7.38. Approximately 152,071 shares traded hands during trading, a decline of 3% from the average daily volume of 156,992 shares. The stock had previously closed at C$7.49.

Analyst Upgrades and Downgrades

Separately, Singular Research raised shares of POET Technologies to a “strong-buy” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Get Our Latest Report on PTK

POET Technologies Stock Down 1.5%

The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08. The firm has a market capitalization of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82. The firm’s fifty day moving average price is C$7.38 and its 200-day moving average price is C$7.38.

Insider Transactions at POET Technologies

In other news, insider Venkata Rama Raju Kankipati sold 5,500 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$20.21, for a total value of C$111,155.00. Following the sale, the insider owned 5,611 shares of the company’s stock, valued at approximately C$113,398.31. The trade was a 49.50% decrease in their position. Also, insider Kevin Barnes sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of C$19.56, for a total value of C$978,000.00. Following the completion of the sale, the insider owned 32,746 shares of the company’s stock, valued at approximately C$640,511.76. This trade represents a 60.43% decrease in their position. Insiders have sold a total of 180,500 shares of company stock valued at $3,597,905 in the last quarter. Company insiders own 0.82% of the company’s stock.

About POET Technologies

(Get Free Report)

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.

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