POET Technologies (CVE:PTK) Stock Price Down 1.5% – Here’s What Happened

POET Technologies Inc. (CVE:PTK) shares dropped 1.5% during mid-day trading on Friday . The company traded as low as C$7.29 and last traded at C$7.38. Approximately 152,071 shares changed hands during trading, a decline of 3% from the average daily volume of 156,992 shares. The stock had previously closed at C$7.49.

POET Technologies Price Performance

The company has a fifty day moving average of C$7.38 and a 200 day moving average of C$7.37. The firm has a market capitalization of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.20 and a quick ratio of 5.08.

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. It also develops photonic integrated components. The company serves the data center, telecommunications, Internet of things and industrial sensing, automotive LIDAR, optical coherence tomography for medical devices, and virtual reality systems markets.