POET Technologies (CVE:PTK) Upgraded at Singular Research

Singular Research upgraded shares of POET Technologies (CVE:PTK) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

POET Technologies Stock Performance

Shares of PTK stock opened at C$7.38 on Monday. The firm’s 50 day moving average price is C$7.38 and its 200-day moving average price is C$7.38. The company has a debt-to-equity ratio of 14.84, a quick ratio of 5.08 and a current ratio of 1.89. POET Technologies has a one year low of C$3.57 and a one year high of C$10.53. The firm has a market cap of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82.

Insider Buying and Selling at POET Technologies

In related news, insider Mo Jinyu sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$20.15, for a total transaction of C$604,500.00. Also, insider Venkata Rama Raju Kankipati sold 5,500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$20.21, for a total transaction of C$111,155.00. Following the completion of the sale, the insider owned 5,611 shares in the company, valued at C$113,398.31. The trade was a 49.50% decrease in their ownership of the stock. Insiders sold 180,500 shares of company stock valued at $3,597,905 in the last 90 days. Corporate 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. 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.