Singular Research upgraded shares of POET Technologies (CVE:PTK – Free Report) to a strong-buy rating in a research report released on Monday,Zacks.com reports.
POET Technologies Trading Down 1.5%
PTK opened at C$7.38 on Monday. 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 company’s 50 day simple moving average is C$7.38 and its two-hundred day simple moving average is C$7.38. POET Technologies has a 1-year low of C$3.57 and a 1-year high of C$10.53. 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.
Insider Buying and Selling at POET Technologies
In other POET Technologies news, insider Mo Jinyu sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$20.15, for a total value of C$604,500.00. Also, Director James Lee sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$19.79, for a total transaction of C$593,700.00. Following the completion of the transaction, the director directly owned 4,375 shares in the company, valued at C$86,581.25. This trade represents a 87.27% decrease in their ownership of the stock. Over the last 90 days, insiders sold 180,500 shares of company stock valued at $3,597,905. 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. 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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