Is POET likely to go up tomorrow?

The likelihood of POET Technologies Inc. (POET) going up tomorrow is low. Here's why:

1. Short Interest Decline: The short interest in POET has declined by 12.6% as of June 15, 2024, which could indicate a lack of confidence from short sellers.
2. Analyst Earnings Estimates: Analysts from Zacks Small Cap have raised their FY2024 earnings per share estimates for POET Technologies, projecting an earnings per share of ($0.39) for the year, up from their previous estimate of ($0.47). However, the consensus estimate for the company's current full-year earnings is still ($0.47) per share.
3. Stock Performance: POET's stock has been highly volatile over the past three months, with a 24.68% change in the last month and a 40.71% change in the last three months. This volatility suggests that the stock may not stabilize easily, making it difficult to predict a specific direction for the stock price.
4. Earnings Performance: In the most recent earnings report, POET reported an earnings per share (EPS) of ($0.051), which was better than the consensus estimate of ($0.11). However, the stock price went down by -8.468% after the earnings report, indicating that the market may have already reacted to the positive news.
5. Market Conditions: The broader market conditions and industry trends also play a role in stock movements. While POET is part of the Semiconductors & Semiconductor Equipment industry, the earnings of POET have been declining at an average annual rate of -15.8%, which is a concerning sign.

In conclusion, while there are some positive signs in terms of analyst estimates, the overall picture for POET Technologies suggests that the stock may face challenges in the near term. The combination of short interest decline, volatile stock performance, and declining earnings makes it difficult to predict a significant upward movement in the stock price tomorrow. Investors should exercise caution and consider these factors before making investment decisions.