POET Technologies (CVE:PTK) Stock Falls 1.5% – What’s Next?

POET Technologies Inc. (CVE:PTK) shares traded down 1.5% during trading on Tuesday. The company traded as low as C$7.29 and last traded at C$7.38. 152,071 shares traded 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.

Analyst Ratings Changes

Separately, Singular Research raised POET Technologies to a “strong-buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

POET Technologies Trading Down 1.5%

The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08. The firm has a market capitalization of C$669.51 million, a PE ratio of -9.11 and a beta of 0.82. The business’s 50-day moving average price is C$7.38 and its 200-day moving average price is C$7.38.

Insider Buying and Selling at POET Technologies

In other POET Technologies news, Director Glen Riley sold 10,892 shares of POET Technologies stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of C$13.33, for a total value of C$145,190.36. Following the transaction, the director directly owned 31,962 shares in the company, valued at approximately C$426,053.46. The trade was a 25.42% decrease in their ownership of the stock. Also, Director Sohail Khan sold 9,924 shares of POET Technologies stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of C$8.27, for a total transaction of C$82,071.48. Following the completion of the transaction, the director owned 11,276 shares in the company, valued at approximately C$93,252.52. This represents a 46.81% decrease in their ownership of the stock. Company insiders own 0.82% of the company’s stock.

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. 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.