POET Technologies (CVE:PTK) Shares Down 1.5% – Here’s Why

POET Technologies Inc. (CVE:PTK) traded down 1.5% during mid-day trading on Tuesday. The stock traded as low as C$7.29 and last traded at C$7.38. Approximately 152,071 shares changed 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.

POET Technologies Stock Down 1.5%

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 35.01, a quick ratio of 5.08 and a current ratio of 1.15. The business’s 50 day moving average is C$7.38 and its 200-day moving average is C$7.38.

Insiders Place Their Bets

In other POET Technologies news, Director Glen Riley sold 10,892 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$13.33, for a total transaction 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. This represents a 25.42% decrease in their ownership of the stock. 0.82% of the stock is currently 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.