POET Technologies (CVE:PTK) Shares Up 9.4% – Here’s What Happened

POET Technologies Inc. (CVE:PTK) rose 9.4% on Tuesday . The stock traded as high as C$5.62 and last traded at C$5.59. Approximately 157,007 shares traded hands during trading, an increase of 24% from the average daily volume of 126,758 shares. The stock had previously closed at C$5.11.

Wall Street Analysts Forecast Growth

Separately, Northland Capmk raised POET Technologies to a “strong-buy” rating in a research report on Monday.

POET Technologies Stock Up 10.2 %

The company has a 50-day simple moving average of C$5.32 and a 200 day simple moving average of C$4.09. The company has a market cap of C$391.85 million, a P/E ratio of -7.00 and a beta of 0.48. The company has a current ratio of 6.71, a quick ratio of 5.08 and a debt-to-equity ratio of 1.63.

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.