POET Technologies (CVE:PTK) Insider Venkata Rama Raju Kankipati Sells 5,500 Shares

POET Technologies Inc. (CVE:PTK) insider Venkata Rama Raju Kankipati sold 5,500 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$20.21, for a total value of C$111,155.00. Following the completion of the sale, the insider owned 5,611 shares of the company’s stock, valued at approximately C$113,398.31. This trade represents a 49.50% decrease in their position.

POET Technologies Price Performance

PTK stock opened at C$7.38 on Thursday. The company has a debt-to-equity ratio of 14.84, a quick ratio of 5.08 and a current ratio of 1.89. POET Technologies Inc. has a 1 year low of C$3.57 and a 1 year high of C$10.53. The firm has a market cap of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82. The stock has a 50-day simple moving average of C$7.38 and a 200-day simple moving average of C$7.38.

Analysts Set New Price Targets

Separately, Singular Research upgraded POET Technologies to a “strong-buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

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.