POET Technologies Inc (NASDAQ:POET) price on Thursday, February 06, fall -2.78% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.89.
A look at the stock’s price movement, the close in the last trading session was $5.03, moving within a range at $4.79 and $5.15. The beta value (5-Year monthly) was 0.472. Turning to its 52-week performance, $7.79 and $1.00 were the 52-week high and 52-week low respectively. Overall, POET moved -20.62% over the past month.
POET Technologies Inc’s market cap currently stands at around $345.77 million, with investors looking forward to this quarter’s earnings report slated for in March.
The average forecast suggests down to a -67.93% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 59.69k, representing a -90.53% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that POET is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
POET’s current price about -1.24% and -5.09% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.81, while 7-day volatility ratio is 10.23% and 8.26% in the 30-day chart. Further, POET Technologies Inc (POET) has a beta value of 0.57, and an average true range (ATR) of 0.49. 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 28.43% off current price level while to achieve the yearly target high, price needs to move 28.43%. Nonetheless, investors will most likely welcome a 28.43% 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 1.59 over the past 10 days and 2.46 million over the past 3 months. The company’s latest data on shares outstanding shows there are 70.21 million shares.
The 1.11% of POET Technologies Inc’s shares are in the hands of company insiders while institutional holders own 4.98% 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 -17.82% 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.
