Saturday, January 16, 2021

H.C. Wainwright slashes price target on Summit Wireless Technologies Inc. [WISA] – find out why.

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Summit Wireless Technologies Inc. [NASDAQ: WISA] loss -6.59% or -0.3 points to close at $4.25 with a heavy trading volume of 1629581 shares. The company report on January 12, 2021 that WiSA Wave Marketing Program Results in Record Consumer Traffic and is Expected to Exceed 1 Million Consumers in 2021.

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Association’s tailored campaigns drive qualified shoppers to WiSA member and retailer websites, significantly impact sales of WiSA Certified™ products in wireless home cinema category.


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WiSA® LLC, the Wireless Speaker and Audio Association founded by Summit Wireless Technologies (NASDAQ: WISA), announced the WiSA Wave, a program that provides customized digital marketing campaigns and access to the Association’s robust consumer database and analytics, has driven significant consumer web traffic since officially launching on September 1, 2020. The Association projects www.wisaassociation.org site traffic to reach over 1 million website visitors in 2021.

It opened the trading session at $4.55, the shares rose to $4.86 and dropped to $4.24, the range by which the price of stock traded the whole day. The daily chart for WISA points out that the company has recorded 90.58% gains over the past six months. However, it is still -147.09% lower than its most recent low trading price.

If we look at the average trading volume of 2.62M shares, WISA reached to a volume of 1629581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Summit Wireless Technologies Inc. [WISA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WISA shares is $6.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WISA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Summit Wireless Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2020.

The Average True Range (ATR) for Summit Wireless Technologies Inc. is set at 0.34, with the Price to Sales ratio for WISA stock in the period of the last 12 months amounting to 17.59. The Price to Book ratio for the last quarter was 3.54, with the Price to Cash per share for the same quarter was set at 1.22.

Trading performance analysis for WISA stock

Summit Wireless Technologies Inc. [WISA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.06. With this latest performance, WISA shares gained by 62.84% in over the last four-week period, additionally plugging by 90.58% over the last 6 months – not to mention a drop of -61.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WISA stock in for the last two-week period is set at 66.91, with the RSI for the last a single of trading hit 67.27, and the three-weeks RSI is set at 65.73 for Summit Wireless Technologies Inc. [WISA]. The present Moving Average for the last 50 days of trading for this stock 2.96, while it was recorded at 4.18 for the last single week of trading, and 2.64 for the last 200 days.

Summit Wireless Technologies Inc. [WISA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Summit Wireless Technologies Inc. [WISA] shares currently have an operating margin of -669.93 and a Gross Margin at -4.26. Summit Wireless Technologies Inc.’s Net Margin is presently recorded at -722.57.

Return on Total Capital for WISA is now -452.89, given the latest momentum, and Return on Invested Capital for the company is -488.48. Return on Equity for this stock declined to -488.48, with Return on Assets sitting at -250.07.

Reflecting on the efficiency of the workforce at the company, Summit Wireless Technologies Inc. [WISA] managed to generate an average of -$267,511 per employee. Receivables Turnover for the company is 15.12 with a Total Asset Turnover recorded at a value of 0.35.Summit Wireless Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 6.50.

Summit Wireless Technologies Inc. [WISA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Summit Wireless Technologies Inc. posted -3.6/share EPS, while the average EPS was predicted by analysts to be reported at -1.6/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -125.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WISA.

An analysis of insider ownership at Summit Wireless Technologies Inc. [WISA]

There are presently around $1 million, or 3.80% of WISA stock, in the hands of institutional investors. The top three institutional holders of WISA stocks are: INGALLS & SNYDER LLC with ownership of 75,240, which is approximately -2.512% of the company’s market cap and around 4.90% of the total institutional ownership; SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC, holding 35,700 shares of the stock with an approximate value of $0.15 million in WISA stocks shares; and PARSONS CAPITAL MANAGEMENT INC/RI, currently with $58000.0 in WISA stock with ownership of nearly New of the company’s market capitalization.

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Positions in Summit Wireless Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 4 institutional holders increased their position in Summit Wireless Technologies Inc. [NASDAQ:WISA] by around 17,447 shares. Additionally, 3 investors decreased positions by around 3,802 shares, while 1 investors held positions by with 110,636 shares. The mentioned changes placed institutional holdings at 131,885 shares, according to the latest SEC report filing. WISA stock had 1 new institutional investments in for a total of 13,640 shares, while 2 institutional investors sold positions of 1,863 shares during the same period.

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