Yes, income of $400 million should mean a share price of $104. The behaviour of investors is determined by numerous factors. So established shares in older industries often have average PE values e.g. banks at around 12 - 15, oil a little higher at 15 -20, food retail 12- 15 . Technology, in general, is perceived as very valuable and there is good evidence that it is e.g. Microsoft, Apple, Google etc. They are awarded much higher PE values in investors eyes and technology is around and average of 60, 9 (it was very, very much higher in the dot-com bubble with values in high hundreds and some even in the thousands).

If you can imagine what POET revenues are likely to be then it is not difficult work out a realistic share price.

David