POET Technologies (CVE:PTK) Stock Rating Upgraded by Singular Research

POET Technologies (CVE:PTK) was upgraded by Singular Research to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

POET Technologies Trading Down 1.5%

PTK opened at C$7.38 on Monday. POET Technologies has a 12 month low of C$3.57 and a 12 month high of C$10.53. The stock has a market capitalization of C$669.51 million, a price-to-earnings ratio of -9.11 and a beta of 0.82. 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 business has a fifty day moving average price of C$7.38 and a 200 day moving average price of C$7.38.

Insider Buying and Selling

In related news, insider Kevin Barnes sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of C$19.56, for a total transaction of C$978,000.00. Following the completion of the transaction, the insider directly owned 32,746 shares of the company’s stock, valued at C$640,511.76. The trade was a 60.43% decrease in their position. Also, insider Mo Jinyu sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$20.15, for a total value of C$604,500.00. Over the last 90 days, insiders sold 180,500 shares of company stock valued at $3,597,905. Company 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.