In today’s recent session, 0.41 million shares of the POET Technologies Inc (NASDAQ:POET) have been traded, and its beta is 0.31. Most recently the company’s share price was $3.74, and it changed around -$0.08 or -2.09% from the last close, which brings the market valuation of the company to $245.34M. POET at last check was trading at a discount to its 52-week high of $5.60, offering almost -49.73% off that amount. The share price’s 52-week low was $0.72, which indicates that the recent value has risen by an impressive 80.75% since then. We note from POET Technologies Inc’s average daily trading volume that its 10-day average is 1.24 million shares, with the 3-month average coming to 1.58 million.
POET Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended POET as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. POET Technologies Inc is expected to report earnings per share of -0.08 for the current quarter.
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POET Technologies Inc (NASDAQ:POET) trade information
Instantly POET has been showing red trend so far today with a performance of -2.09% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.13 on recent trading dayincreased the stock’s daily price by 9.44%. The company’s shares are currently up 299.83% year-to-date, but still down -3.86% over the last five days. On the other hand, POET Technologies Inc (NASDAQ:POET) is -15.77% down in the 30-day period. We can see from the shorts that 1.78 million shares have been sold at a short interest cover period of 0.59 day(s).
The consensus price target as assigned by Wall Street analysts is $3.5, which translates to bulls needing to decrease their stock price by -6.86% from its current value. Analyst projections state that POET is forecast to be at a low of $3.5 and a high of $3.5.
POET Technologies Inc (POET) estimates and forecasts
POET Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 36.50 percent over the past six months and at a 11.76% annual growth rate that is well above the industry average of -3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 38.50% in revenue this quarter, and will report an increase of 38.50% in the next quarter. The year-over-year growth rate is expected to be -76.40%, down from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 60k in revenue for the current quarter. 2 analysts expect POET Technologies Inc to make 50k in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at -53.70%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.67%. POET Technologies Inc earnings are expected to increase by -25.81% in 2024, but the outlook is positive 20.00% per year for the next five years.
POET Dividends
POET Technologies Inc’s next quarterly earnings report is expected to be released on 2024-Nov-12.
POET Technologies Inc (NASDAQ:POET)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.81% of POET Technologies Inc shares, and 5.22% of them are in the hands of institutional investors. The stock currently has a share float of 5.26%. POET Technologies Inc stock is held by 32.0 institutions, with MMCAP INTERNATIONAL INC. SPC being the largest institutional investor. By 2024-06-30, it held 6.1527% of the shares, which is about 2.86 million shares worth $5.93 million.
SUSQUEHANNA INTERNATIONAL GROUP, LLP, with 0.2692% or 0.13 million shares worth $0.26 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
The former held 26.14 shares worth $98025.0, making up 0.04% of all outstanding shares.
