POET Technologies (CVE:PTK) Stock Price Up 12.8% – Here’s What Happened

POET Technologies Inc. (CVE:PTK) shares rose 12.8% during mid-day trading on Tuesday . The stock traded as high as C$6.73 and last traded at C$6.68. Approximately 187,511 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 127,751 shares. The stock had previously closed at C$5.92.

Wall Street Analyst Weigh In

Separately, Northland Capmk upgraded POET Technologies to a “strong-buy” rating in a research note on Monday, November 18th.

POET Technologies Price Performance

The firm has a 50 day simple moving average of C$5.53 and a 200-day simple moving average of C$4.22. The company has a quick ratio of 5.08, a current ratio of 6.71 and a debt-to-equity ratio of 1.63. The company has a market cap of C$479.54 million, a PE ratio of -9.75 and a beta of 0.48.

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.