POET Technologies Inc (NASDAQ:POET) has a beta value of 0.32 and has seen 1.07 million shares traded in the last trading session. The POET stock price is -45.45% off its 52-week high price of $5.60 and 81.3% above the 52-week low of $0.72. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.67 million shares traded. The 3-month trading volume is 1.55 million shares.
POET Technologies Inc (NASDAQ:POET) trade information
Over the past 30 days, the shares of POET Technologies Inc (NASDAQ:POET) have changed 26.23%. Short interest in the company has seen 2.09 million shares shorted with days to cover at 0.79.
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Wall Street analysts have a consensus price target for the stock at $3.5, which means that the shares’ value could drop -10.0% from current levels. The projected low price target is $3.5 while the price target rests at a high of $3.5. In that case, then, we find that the current price level is 9.09% off the targeted high while a plunge would see the stock lose 9.09% from current levels.
POET Technologies Inc (POET) estimates and forecasts
Figures show that POET Technologies Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 253.21% over the past 6 months, with this year growth rate of 11.76%, compared to -5.60% for the industry. Revenue growth from the last financial year stood is estimated to be 28.80%.
2 analysts offering their estimates for the company have set an average revenue estimate of 60k for the current quarter. 2 have an estimated revenue figure of 90k for the next ending quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 2.67% over the past 5 years. Earnings growth for 2024 is a modest -25.81% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
POET Dividends
POET Technologies Inc is expected to release its next earnings report in November this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
POET Technologies Inc (NASDAQ:POET)’s Major holders
Insiders own 0.82% of the company shares, while shares held by institutions stand at 5.24% with a share float percentage of 5.29%. Investors are also buoyed by the number of investors in a company, with POET Technologies Inc having a total of 30.0 institutions that hold shares in the company. The top two institutional holders are MMCAP INTERNATIONAL INC. SPC with over 2.86 million shares worth more than $5.93 million. As of 2024-06-30, MMCAP INTERNATIONAL INC. SPC held 6.1527% of shares outstanding.
The other major institutional holder is SUSQUEHANNA INTERNATIONAL GROUP, LLP, with the holding of over 0.13 million shares as of 2024-06-30. The firm’s total holdings are worth over $0.26 million and represent 0.2692% of shares outstanding.
