POET Technologies (CVE:PTK – Get Free Report) was upgraded by research analysts at Singular Research to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
POET Technologies Stock Down 1.5%
CVE:PTK opened at C$7.38 on Monday. The company has a quick ratio of 5.08, a current ratio of 1.89 and a debt-to-equity ratio of 14.84. The stock’s fifty day moving average is C$7.38 and its two-hundred day moving average is C$7.38. POET Technologies has a 52 week low of C$3.57 and a 52 week high of C$10.53. The stock has a market capitalization of C$669.51 million, a price-to-earnings ratio of -9.11 and a beta of 0.82.
Insiders Place Their Bets
In related news, Director James Lee sold 30,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$19.79, for a total value of C$593,700.00. Following the transaction, the director owned 4,375 shares of the company’s stock, valued at C$86,581.25. This represents a 87.27% decrease in their ownership of the stock. Also, insider Venkata Rama Raju Kankipati sold 5,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 5,611 shares in the company, valued at approximately C$113,398.31. The trade was a 49.50% decrease in their position. Over the last ninety days, insiders sold 180,500 shares of company stock worth $3,597,905. 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. 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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