POET Technologies (CVE:PTK) Director Sells C$145,190.36 in Stock

POET Technologies Inc. (CVE:PTK) Director Glen Riley sold 10,892 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$13.33, for a total value of C$145,190.36. Following the completion of the sale, the director directly owned 31,962 shares in the company, valued at C$426,053.46. The trade was a 25.42% decrease in their ownership of the stock.

POET Technologies Trading Down 1.5%

PTK opened at C$7.38 on Thursday. The business has a 50 day simple moving average of C$7.38 and a two-hundred day simple moving average of C$7.38. The firm has a market capitalization of C$669.51 million, a price-to-earnings ratio of -9.11 and a beta of 0.82. The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08. POET Technologies Inc. has a one year low of C$3.57 and a one year high of C$10.53.

Wall Street Analysts Forecast Growth

Separately, Singular Research raised POET Technologies to a “strong-buy” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

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.