POET Technologies (CVE:PTK) Trading 19.9% Higher – Here’s What Happened

POET Technologies Inc. (CVE:PTK) traded up 19.9% on Thursday . The company traded as high as C$6.64 and last traded at C$6.63. 165,609 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 151,659 shares. The stock had previously closed at C$5.53.

POET Technologies Price Performance

The firm has a 50-day moving average of C$6.41 and a 200-day moving average of C$6.20. The stock has a market cap of C$290.62 million, a PE ratio of -6.13 and a beta of 0.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.20 and a quick ratio of 5.08.

Insiders Place Their Bets

In other news, Director James Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$9.54, for a total transaction of C$47,682.00. 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.