In the latest trading session, 0.53 million POET Technologies Inc (NASDAQ:POET) shares changed hands as the company’s beta touched 0.26. With the company’s most recent per share price at $3.35 changed hands at -$0.25 or -6.79% at last look, the market valuation stands at $261.46M. POET’s current price is a discount, trading about -132.54% off its 52-week high of $7.79. The share price had its 52-week low at $1.00, which suggests the last value was 70.15% up since then. When we look at POET Technologies Inc’s average trading volume, we note the 10-day average is 1.0 million shares, with the 3-month average coming to 1.56 million.

POET Technologies Inc (NASDAQ:POET) trade information

Instantly POET was in red as seen in intraday trades today. With action -11.35%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -43.68%, with the 5-day performance at -11.35% in the red. However, in the 30-day time frame, POET Technologies Inc (NASDAQ:POET) is -6.66% down. Looking at the short shares, we see there were 3.61 million shares sold at short interest cover period of 2.74 days.

The consensus price target for the stock as assigned by Wall Street analysts is 3.5, meaning bulls need an upside of 4.29% 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 -4.48% plunge from its current level, while the stock would need to soar -4.48% for it to hit the projected low.

POET Technologies Inc (POET) estimates and forecasts

Year-over-year growth is forecast to reach 9,743.44% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 560.5k. 2 analysts are of the opinion that POET Technologies Inc’s revenue for the current quarter will be 1.05M. The company’s revenue for the corresponding quarters a year ago was 11.85k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4,629.96%. The estimates for the next quarter sales put growth at 0.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -13.09%.

POET Technologies Inc (NASDAQ:POET)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.74% of POET Technologies Inc shares while 7.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.18%. There are 7.12% 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 5.079% of the shares, roughly 2.86 million POET shares worth $5.93 million.

BANK OF MONTREAL /CAN/ holds the second largest percentage of outstanding shares, with 0.2655% or 0.12 million shares worth $0.22 million as of 2024-06-30.

With 33.9 shares estimated at $0.11 million under it, the former controlled 0.04% of total outstanding shares.