In last trading session, POET Technologies Inc (NASDAQ:POET) saw 2.27 million shares changing hands with its beta currently measuring 0.32. Company’s recent per share price level of $4.17 trading at $0.51 or 13.93% at ring of the bell on the day assigns it a market valuation of $273.55M. That closing price of POET’s stock is at a discount of -34.29% from its 52-week high price of $5.60 and is indicating a premium of 82.73% from its 52-week low price of $0.72. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.46 million shares which gives us an average trading volume of 1.54 million if we extend that period to 3-months.
POET Technologies Inc (NASDAQ:POET) trade information
POET Technologies Inc’s shares saw a change of 345.80% in year-to-date performance and have moved 5.30% in past 5-day. POET Technologies Inc (NASDAQ:POET) showed a performance of 34.52% in past 30-days. Number of shares sold short was 2.09 million shares which calculate 0.79 days to cover the short interests.
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Wall Street analysts have assigned a consensus price target of 3.5 to the stock, which implies a fall of -19.14% to its current value. Analysts have been projecting 3.5 as a low price target for the stock while placing it at a high target of 3.5. It follows that stock’s current price would jump 16.07% in reaching the projected high whereas dropping to the targeted low would mean a gain of 16.07% for stock’s current value.
POET Technologies Inc (POET) estimates and forecasts
Statistics highlight that POET Technologies Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 293.17% of value to its shares in past 6 months, showing an annual growth rate of 11.76% while that of industry is -5.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 28.80% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 60k for the same. And 2 analysts are in estimates of company making revenue of 90k in the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 2.67% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -25.81% while estimates for its earnings growth in next 5 years are of 20.00%.
POET Technologies Inc (NASDAQ:POET)’s Major holders
Insiders are in possession of 0.82% of company’s total shares while institution are holding 5.24 percent of that, with stock having share float percentage of 5.29%. Investors also watch the number of corporate investors in a company very closely, which is 5.24% institutions for POET Technologies Inc that are currently holding shares of the company. MMCAP INTERNATIONAL INC. SPC is the top institutional holder at POET for having 2.86 million shares of worth $5.93 million. And as of 2024-06-30, it was holding 6.1527 of the company’s outstanding shares.
The second largest institutional holder is SUSQUEHANNA INTERNATIONAL GROUP, LLP, which was holding about 0.13 million shares on 2024-06-30. The number of shares represents firm’s hold over 0.2692 of outstanding shares, having a total worth of $0.26 million.
