POET Technologies Inc (NASDAQ:POET) price on current trading day, fall -6.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.81.
A look at the stock’s price movement, the close in the last trading session was $5.13, moving within a range at $4.7 and $5.14. The beta value (5-Year monthly) was 0.472. Turning to its 52-week performance, $5.83 and $0.77 were the 52-week high and 52-week low respectively. Overall, POET moved 32.14% over the past month.
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POET Technologies Inc’s market cap currently stands at around $340.12 million, with investors looking forward to this quarter’s earnings report slated for in January.
Turning to the stock’s technical picture we see that short term indicators suggest on average that POET is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
POET’s current price about 10.56% and 15.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 56.76, while 7-day volatility ratio is 13.87% and 10.60% in the 30-day chart. Further, POET Technologies Inc (POET) has a beta value of 0.44, and an average true range (ATR) of 0.48. Analysts have given the company’s stock an average 52-week price target of $3.5, forecast between a low of $3.5 and high of $3.5. Looking at the price targets, the low is 27.23% off current price level while to achieve the yearly target high, price needs to move 27.23%. Nonetheless, investors will most likely welcome a 27.23% jump to $3.5 which is the analysts’ median price.
If we refocus on POET Technologies Inc (NASDAQ:POET), historical trading data shows that trading volumes averaged 2.64 over the past 10 days and 1.98 million over the past 3 months. The company’s latest data on shares outstanding shows there are 70.21 million shares.
The 0.88% of POET Technologies Inc’s shares are in the hands of company insiders while institutional holders own 8.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.11 million on 2024-10-31, giving us a short ratio of 1.53. The data shows that as of 2024-10-31 short interest in POET Technologies Inc (POET) stood at 306.0 of shares outstanding, with shares short rising to 2.09 million registered in 2024-09-30. Current price change has pushed the stock 414.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the POET stock continues to rise going into the next quarter.
