POET Technologies Inc (NASDAQ:POET) price on Friday, June 13, rose 0.97% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.17.
A look at the stock’s price movement, the close in the last trading session was $4.13. Turning to its 52-week performance, $7.79 and $1.65 were the 52-week high and 52-week low respectively. Overall, POET moved -7.13% over the past month.
POET Technologies Inc’s market cap currently stands at around $352.74 million, with investors looking forward to this quarter’s earnings report slated for in July.
POET’s current price about -4.31% and 0.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.46, while 7-day volatility ratio is 1.66% and 3.67% in the 30-day chart. Further, POET Technologies Inc (POET) has a beta value of 0.24, and an average true range (ATR) of 0.24. 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 16.07% off current price level while to achieve the yearly target high, price needs to move 16.07%. Nonetheless, investors will most likely welcome a 16.07% 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 872.58K over the past 3 months. The company’s latest data on shares outstanding shows there are 84.59 million shares.
The 1.00% of POET Technologies Inc’s shares are in the hands of company insiders while institutional holders own 3.51% of the company’s shares. Current price change has pushed the stock -29.92% 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.
