The trading price of POET Technologies Inc (NASDAQ:POET) closed lower on Monday, March 03, and closing at $3.45, -12.33% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $7.79 and a 52-week low of $1.00. Over the past month, the stock has lost -25.97% in value.
POET Technologies Inc, whose market valuation is $269.20 million at the time of this writing, is expected to release its quarterly earnings report in April. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest POET has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.
A quick review shows that POET’s price is currently -24.49% off the SMA20 and -31.70% off the SMA50. The RSI metric on the 14-day chart is currently showing 32.74, and weekly volatility stands at 11.12%. When measured over the past 30 days, the indicator reaches 9.44%. POET Technologies Inc (NASDAQ:POET)’s beta value is currently sitting at 0.61, while the Average True Range indicator is currently displaying 0.43. With analysts defining $3.5-$3.5 as the low and high price targets, we arrive at a consensus price target of $3.5 for the trailing 12-month period. The current price is about -1.45% off the estimated low and -1.45% off the forecast high, based on this estimate. Investors will be thrilled if POET’s share price rises to $3.5, which is the median consensus price. At that level, POET’s share price would be -1.45% below current price.
To see how POET Technologies Inc stock has been performing in comparison to its peers in the industry, here are the numbers: POET stock’s performance was -12.33% in the latest trading, and 142.96% in the past year, while Littelfuse Inc. (LFUS) has traded -3.89%% on the day and positioned -6.83% lower than it was a year ago. Another comparable company Hubbell Inc. (HUBB) saw its stock close -4.48%% lower in the most recent trading session but was down -8.46% in a year.
An evaluation of the daily trading volume of POET Technologies Inc (NASDAQ:POET) indicates that the 3-month average is 2.42 million.
Currently, records show that 78.03 million of the company’s shares remain outstanding. The insiders hold 1.11% of outstanding shares, whereas institutions hold 7.13%. However, since the stock’s price has seen -42.02% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
