POET Technologies (CVE:PTK) Trading Down 1.5% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

POET Technologies Stock Down 1.5%

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

Insider Buying and Selling at POET Technologies

In related news, insider Kevin Barnes sold 35,625 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$20.20, for a total transaction of C$719,625.00. Following the sale, the insider owned 82,746 shares of the company’s stock, valued at approximately C$1,671,469.20. This represents a 30.10% decrease in their position. Also, Director James Lee sold 25,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$20.13, for a total transaction of C$503,250.00. Insiders have sold a total of 190,424 shares of company stock worth $3,679,976 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

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.