POET Technologies (CVE:PTK) Stock Price Up 19.9% – Here’s Why

POET Technologies Inc. (CVE:PTK) shares shot up 19.9% during trading on Thursday . The company traded as high as C$6.64 and last traded at C$6.63. 165,609 shares were traded during 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 Stock Performance

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

Insiders Place Their Bets

In other POET Technologies news, Director James Lee sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of C$9.54, for a total value of C$47,682.00. Insiders own 0.82% of the company’s stock.

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.