POET Technologies (CVE:PTK) Stock Price Up 20.1% – Should You Buy?

POET Technologies Inc. (CVE:PTK) shares rose 20.1% during mid-day trading on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.38. Approximately 289,465 shares were traded during trading, an increase of 104% from the average daily volume of 141,648 shares. The stock had previously closed at C$6.98.

Analysts Set New Price Targets

Separately, Northland Capmk raised shares of POET Technologies to a “strong-buy” rating in a report on Monday, November 18th.

POET Technologies Stock Performance

The business’s fifty day simple moving average is C$6.13 and its 200-day simple moving average is C$4.84. The company has a market capitalization of C$573.50 million, a P/E ratio of -11.29 and a beta of 0.48. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71.

Insider Buying and Selling

In other POET Technologies news, Director James Lee sold 25,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$6.95, for a total transaction of C$173,712.50. Also, Senior Officer Vivek Rajgarhia sold 5,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$7.24, for a total transaction of C$36,219.00. 0.82% of the stock is owned by company 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.