POET Technologies (CVE:PTK) Shares Down 1.5% – What’s Next?

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

POET Technologies Trading Down 1.5%

The company has a debt-to-equity ratio of 35.01, a quick ratio of 5.08 and a current ratio of 1.15. The firm has a fifty day moving average price of C$7.38 and a 200 day moving average price of C$7.38. The company has a market cap of C$669.51 million, a price-to-earnings ratio of -9.11 and a beta of 0.82.

Insider Transactions at POET Technologies

In other POET Technologies news, Director Glen Riley sold 10,892 shares of the 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 completion of the sale, the director owned 31,962 shares in the company, valued at C$426,053.46. This trade represents a 25.42% decrease in their ownership of the stock. 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.