POET Technologies (CVE:PTK) Director Glen Riley Sells 10,892 Shares of Stock

POET Technologies Inc. (CVE:PTK) Director Glen Riley sold 10,892 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was 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 directly owned 31,962 shares in the company, valued at C$426,053.46. The trade was a 25.42% decrease in their ownership of the stock.

POET Technologies Stock Down 1.5%

Shares of CVE:PTK opened at C$7.38 on Tuesday. 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 cap 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 current ratio of 1.89 and a quick ratio of 5.08. POET Technologies Inc. has a 1 year low of C$3.57 and a 1 year high of C$10.53.

Analysts Set New Price Targets

Separately, Singular Research raised shares of 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, the stock has an average rating of “Strong Buy”.

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.