The trading price of POET Technologies Inc (NASDAQ:POET) closed higher on Tuesday, March 25, and closing at $4.39, 5.78% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $4.24 and $4.57. 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 gained 5.53% in value.
POET Technologies Inc, whose market valuation is $342.55 million at the time of this writing, is expected to release its quarterly earnings report on 2024-Nov-13. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.07 per share this quarter, however they have predicted annual earnings per share of -0.44 for current year and -0.28 for next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 59.69k.
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 Hold, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that POET’s price is currently 14.98% off the SMA20 and -0.90% off the SMA50. The RSI metric on the 14-day chart is currently showing 55.27, and weekly volatility stands at 9.30%. When measured over the past 30 days, the indicator reaches 9.45%. POET Technologies Inc (NASDAQ:POET)’s beta value is currently sitting at 0.46, while the Average True Range indicator is currently displaying 0.38. 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 20.27% off the estimated low and 20.27% 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 20.27% above 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 5.78% in the latest trading, and 218.12% in the past year.
An evaluation of the daily trading volume of POET Technologies Inc (NASDAQ:POET) indicates that the 3-month average is 2.00 million. However, this figure has increased over the past 10 days to an average of 1.46.
Currently, records show that 78.03 million of the company’s shares remain outstanding. The insiders hold 1.01% of outstanding shares, whereasinstitutions hold 7.13%. The stats also highlight that short interest as of 2025-02-28, stood at 3.47 million shares, resulting in a short ratio of 2.22 at that time. From this, we can conclude that short interest is 458.00 of the company’s total outstanding shares. It is noteworthy that short shares in February were down slightly from the previous month’s figure, which was 3.8 million. However, since the stock’s price has seen -26.22% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
