Do Analysts Think POET Technologies Inc (POET) Is Still Worth Buying In 2024?

POET Technologies Inc (NASDAQ:POET) does about 683.22K shares in volume on a normal day but saw 1154153 shares change hands in Tuesday’s trading. The company now has a market cap of 101.98M USD. Its current market price is $2.40, marking an increase of 10.09% compared to the previous close of $2.18. The 52 week high reached by this stock is $5.88 whilst the lowest price level in 52 weeks is $0.72.

POET Technologies Inc (POET) has a 20-day trading average at $2.03 and the current price is -59.18% off the 52-week high compared with 233.33% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.57 and its 200-day simple moving average is $2.01. If we look at the stock’s price movements over the week, volatility stands at 9.21%, which increases to 18.10% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 61.46 to suggest the stock is neutral.

The consensus objective for the share price is $3.00, suggesting that the stock has a potential upside of 20.0% over the period.

POET Technologies Inc (POET) stock is up 14.83% over the week and 137.08% over the past month. Its price is 156.57% year-to-date and -46.67% over the past year.

To reach the target analysts have set, the stock logically needs to grow 20.0 percent from here.

The company has a return on investment of -386.89% and return on equity of -247.52%. The beta has a value of 0.37. Price to book ratio is 20.68 and price to sales ratio is 216.97.