In the latest trading session, 0.51 million POET Technologies Inc (NASDAQ:POET) shares changed hands as the company’s beta touched 0.46. With the company’s most recent per share price at $4.66 changed hands at -$0.1 or -2.10% at last look, the market valuation stands at $329.51M. POET’s current price is a discount, trading about -25.11% off its 52-week high of $5.83. The share price had its 52-week low at $0.82, which suggests the last value was 82.4% up since then. When we look at POET Technologies Inc’s average trading volume, we note the 10-day average is 2.6 million shares, with the 3-month average coming to 2.36 million.
POET Technologies Inc (NASDAQ:POET) trade information
Instantly POET was in red as seen in intraday trades today. With action 1.75%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 398.18%, with the 5-day performance at 1.75% in the green. However, in the 30-day time frame, POET Technologies Inc (NASDAQ:POET) is 15.35% up. Looking at the short shares, we see there were 2.11 million shares sold at short interest cover period of 1.53 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3.5, meaning bulls need a downside of -33.14% from its recent market value. According to analyst projections, POET’s forecast low is 3.5 with 3.5 as the target high. To hit the forecast high, the stock’s price needs a 24.89% surge from its current level, while the stock would need to tank 24.89% for it to hit the projected low.
POET Technologies Inc (POET) estimates and forecasts
Data shows that the POET Technologies Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 166.29% over the past 6 months, a 11.76% in annual growth rate that is considerably higher than the industry average of -1.50%. Year-over-year growth is forecast to reach -90.53% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 46.67k. 2 analysts are of the opinion that POET Technologies Inc’s revenue for the current quarter will be 560.5k. The company’s revenue for the corresponding quarters a year ago was 145.53k and 11.85k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -67.93%. The estimates for the next quarter sales put growth at 4,629.96%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 2.67%. The 2024 estimates are for POET Technologies Inc earnings to decrease by -18.73%, but the outlook for the next 5-year period is at 20.00% per year.
POET Dividends
POET Technologies Inc is expected to release its next quarterly earnings report in January.
POET Technologies Inc (NASDAQ:POET)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.81% of POET Technologies Inc shares while 8.80% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 8.88%. There are 8.80% institutions holding the POET Technologies Inc stock share, with MMCAP INTERNATIONAL INC. SPC the top institutional holder. As of 2024-06-30, the company held 6.1527% of the shares, roughly 2.86 million POET shares worth $5.93 million.
SUSQUEHANNA INTERNATIONAL GROUP, LLP holds the second largest percentage of outstanding shares, with 0.2692% or 0.13 million shares worth $0.26 million as of 2024-06-30.
With 26.14 shares estimated at $0.12 million under it, the former controlled 0.03% of total outstanding shares.
