POET Technologies Inc (NASDAQ:POET) price on Thursday, March 20, rose 10.48% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.27.
A look at the stock’s price movement, the close in the last trading session was $3.87, moving within a range at $3.9 and $4.65. The beta value (5-Year monthly) was 0.759. Turning to its 52-week performance, $7.79 and $1.00 were the 52-week high and 52-week low respectively. Overall, POET moved -12.32% over the past month.
POET Technologies Inc’s market cap currently stands at around $333.19 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-13.
Turning to the stock’s technical picture we see that short term indicators suggest on average that POET is a 25% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
POET’s current price about 11.96% and -5.29% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.43, while 7-day volatility ratio is 10.13% and 9.54% in the 30-day chart. Further, POET Technologies Inc (POET) has a beta value of 0.48, and an average true range (ATR) of 0.39. 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 18.03% off current price level while to achieve the yearly target high, price needs to move 18.03%. Nonetheless, investors will most likely welcome a 18.03% 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 1.31 over the past 10 days and 2.01 million over the past 3 months. The company’s latest data on shares outstanding shows there are 78.03 million shares.
The 1.01% of POET Technologies Inc’s shares are in the hands of company insiders while institutional holders own 7.13% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.47 million on 2025-02-28, giving us a short ratio of 2.22. The data shows that as of 2025-02-28 short interest in POET Technologies Inc (POET) stood at 458.0 of shares outstanding, with shares short falling to 3.8 million registered in 2025-01-31. Current price change has pushed the stock -28.24% 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.
