POET Technologies (CVE:PTK) Trading 18.1% Higher – Still a Buy?

POET Technologies Inc. (CVE:PTK) shares rose 18.1% on Tuesday . The company traded as high as C$8.43 and last traded at C$8.24. Approximately 322,979 shares changed hands during trading, an increase of 128% from the average daily volume of 141,842 shares. The stock had previously closed at C$6.98.

Wall Street Analyst Weigh In

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

POET Technologies Stock Performance

The stock’s 50-day simple moving average is C$6.13 and its 200-day simple moving average is C$4.84. The stock has a market cap of C$573.50 million, a price-to-earnings ratio of -11.29 and a beta of 0.48. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63.

Insider Activity at POET Technologies

In related news, Director James Lee sold 25,000 shares of the company’s stock in a transaction dated 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 dated Wednesday, December 11th. The stock was sold at an average price of C$7.24, for a total transaction of C$36,219.00. 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.