POET Technologies Inc (NASDAQ:POET) has a beta value of 0.45 and has seen 1.8 million shares traded in the last trading session. The company, currently valued at $300.52M, closed the last trade at $4.25 per share which meant it lost -$0.1 on the day or -2.30% during that session. The POET stock price is -37.18% off its 52-week high price of $5.83 and 81.88% above the 52-week low of $0.77. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.83 million shares traded. The 3-month trading volume is 2.19 million shares.
POET Technologies Inc (NASDAQ:POET) trade information
Sporting -2.30% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the POET stock price touched $4.25 or saw a rise of 25.18%. Year-to-date, POET Technologies Inc shares have moved 354.35%, while the 5-day performance has seen it change -17.15%. Over the past 30 days, the shares of POET Technologies Inc (NASDAQ:POET) have changed 9.54%. Short interest in the company has seen 2.11 million shares shorted with days to cover at 1.53.
Wall Street analysts have a consensus price target for the stock at $3.5, which means that the shares’ value could drop -21.43% 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 17.65% off the targeted high while a plunge would see the stock lose 17.65% 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 151.48% over the past 6 months, with this year growth rate of 11.76%, compared to -0.90% for the industry. Revenue growth from the last financial year stood is estimated to be -90.53%.
3 analysts offering their estimates for the company have set an average revenue estimate of 46.67k for the current quarter. 2 have an estimated revenue figure of 560.5k for the next ending quarter. Year-ago sales stood 145.53k and 11.85k respectively for this quarter and the next, and analysts expect sales will shrink by -67.93% for the current quarter and -90.53% for the next.
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 -18.73% 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 January 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 0.81% of the company shares, while shares held by institutions stand at 8.80% with a share float percentage of 8.88%. Investors are also buoyed by the number of investors in a company, with POET Technologies Inc having a total of 37.0 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.
