POET Technologies (CVE:PTK) Shares Up 9.4% – Here’s What Happened

Shares of POET Technologies Inc. (CVE:PTK) shot up 9.4% on Tuesday . The company traded as high as C$5.62 and last traded at C$5.59. 157,007 shares changed hands during trading, an increase of 24% from the average session volume of 126,758 shares. The stock had previously closed at C$5.11.

Analyst Upgrades and Downgrades

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

POET Technologies Trading Up 10.2 %

The stock has a fifty day moving average of C$5.32 and a 200 day moving average of C$4.09. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.08 and a current ratio of 6.71. The company has a market capitalization of C$391.85 million, a PE ratio of -7.00 and a beta of 0.48.

POET Technologies Company Profile

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.