POET Technologies (CVE:PTK) Insider Sells C$111,155.00 in Stock

POET Technologies Inc. (CVE:PTK) insider Venkata Rama Raju Kankipati sold 5,500 shares of POET Technologies stock in a transaction dated 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 transaction, the insider directly owned 5,611 shares of the company’s stock, valued at approximately C$113,398.31. This trade represents a 49.50% decrease in their ownership of the stock.

POET Technologies Price Performance

PTK opened at C$7.38 on Friday. The stock has a 50-day moving average price of C$7.38 and a 200-day moving average price of C$7.38. The firm has a market cap of C$669.51 million, a PE ratio of -9.11 and a beta of 0.82. POET Technologies Inc. has a 1 year low of C$3.57 and a 1 year high of C$10.53. The company has a debt-to-equity ratio of 14.84, a current ratio of 1.89 and a quick ratio of 5.08.

Wall Street Analyst Weigh In

Separately, Singular Research upgraded POET Technologies to a “strong-buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

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.