POET Technologies Inc (NASDAQ:POET) price closed lower on current market day and dropping -0.99% below its previous close.
A look at the daily price movement shows that the last close reads $4.04, with intraday deals fluctuated between $3.93 and $4.15. The company’s 5Y monthly beta was ticking 0.48. Taking into account the 52-week price action we note that the stock hit a 52-week high of $5.60 and 52-week low of $0.72. The stock added 27.39% on its value in the past month.
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POET Technologies Inc, which has a market valuation of $262.40 million, is expected to release its quarterly earnings report in November.
On average, analysts have forecast the company’s revenue for the quarter will hit 60k, with the likely lows of 20k and highs of 100k. Staying with the analyst view, there is a consensus estimate of 110k for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow -76.40% below that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give POET a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
The overview shows that POET’s price is at present -5.43% off the SMA20 and 13.78% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 52.78, with weekly volatility standing at 9.65%. The indicator jumps to 12.29% when calculated based on the past 30 days. POET Technologies Inc (NASDAQ:POET)’s beta value is holding at 0.31, while the average true range (ATR) indicator is currently reading 0.38. Considering analysts have assigned the stock a price target range of $3.5-$3.5 as the low and high respectively, we find the trailing 12-month average consensus price target to be $3.5. Based on this estimate, we see that current price is roughly 12.5% off the estimated low and 12.5% off the forecast high. Investors will no doubt be excited to see the share price rise to $3.5, which is the median consensus price, and at that level POET would be 12.5% from current price.
An analysis of the POET Technologies Inc (NASDAQ:POET) stock in terms of its daily trading volume indicates that the 3-month average is 1.55 million. However, this figure increases on the past 10-day timeline to an average of 1.52 million.
Current records show that the company has 65.60M in outstanding shares. The insiders’ percentage holdings are 0.88% of outstanding shares while the percentage share held by institutions stands at 5.62%. The stats also highlight that short interest as of 2024-09-30, stood at 2.09 million shares, which puts the short ratio at the time at 0.79. From this we can glean that short interest is 304.00 of company’s current outstanding shares. Notably, we see that shares short in September rose slightly given the previous month’s figure stood at 1.42 million. But the 327.62% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
