Summit Wireless Technologies Inc. [WISA] stock Initiated by H.C. Wainwright analyst, price target now $3.50

Summit Wireless Technologies Inc. [NASDAQ: WISA] plunged by -$0.51 during the normal trading session on Tuesday and reaching a high of $5.13 during the day while it closed the day at $4.50. The company report on June 8, 2021 that Summit Wireless Technologies Set to Join Russell Microcap® Index.

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Summit Wireless Technologies, Inc. (Nasdaq: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, is set to join Russell Microcap® Index when Russell reconstitutes its comprehensive set of U.S. and global equity indexes on June 25.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210608005370/en/.

Summit Wireless Technologies Inc. stock has also gained 10.02% of its value over the past 7 days. However, WISA stock has inclined by 37.61% in the 3 months of the year. Over the past six months meanwhile, it has gained 65.44% and gained 27.12% year-on date.

The market cap for WISA stock reached $43.38 million, with 9.98 million shares outstanding and 9.29 million shares in the current float. Compared to the average trading volume of 815.99K shares, WISA reached a trading volume of 2964275 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Summit Wireless Technologies Inc. [WISA]:

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 0.53, with the Price to Sales ratio for WISA stock in the period of the last 12 months amounting to 13.99. The Price to Book ratio for the last quarter was 4.55, with the Price to Cash per share for the same quarter was set at 1.01.

WISA stock trade performance evaluation

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 10.02. With this latest performance, WISA shares gained by 51.01% in over the last four-week period, additionally plugging by 65.44% over the last 6 months – not to mention a rise of 78.57% 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 60.95, with the RSI for the last a single of trading hit 59.33, and the three-weeks RSI is set at 60.73 for Summit Wireless Technologies Inc. [WISA]. The present Moving Average for the last 50 days of trading for this stock 3.34, while it was recorded at 4.51 for the last single week of trading, and 2.98 for the last 200 days.

Summit Wireless Technologies Inc. [WISA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Summit Wireless Technologies Inc. [WISA] shares currently have an operating margin of -459.69 and a Gross Margin at +17.76. Summit Wireless Technologies Inc.’s Net Margin is presently recorded at -528.49.

Return on Total Capital for WISA is now -223.03, given the latest momentum, and Return on Invested Capital for the company is -261.12. Return on Equity for this stock declined to -281.58, with Return on Assets sitting at -163.71. When it comes to the capital structure of this company, Summit Wireless Technologies Inc. [WISA] has a Total Debt to Total Equity ratio set at 11.20. Additionally, WISA Total Debt to Total Capital is recorded at 10.07, with Total Debt to Total Assets ending up at 7.84. Long-Term Debt to Equity for the company is recorded at 9.66, with the Long-Term Debt to Total Capital now at 8.04.

Reflecting on the efficiency of the workforce at the company, Summit Wireless Technologies Inc. [WISA] managed to generate an average of -$334,342 per employee. Receivables Turnover for the company is 24.91 with a Total Asset Turnover recorded at a value of 0.31.Summit Wireless Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 4.60.

Earnings per share (EPS) analysis for Summit Wireless Technologies Inc. [WISA] stock

With the latest financial reports released by the company, Summit Wireless Technologies Inc. posted -0.9/share EPS, while the average EPS was predicted by analysts to be reported at -0.4/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.

Summit Wireless Technologies Inc. [WISA]: Insider Ownership positions

There are presently around $4 million, or 8.50% of WISA stock, in the hands of institutional investors. The top three institutional holders of WISA stocks are: TWO SIGMA ADVISERS, LP with ownership of 125,700, which is approximately New of the company’s market cap and around 7.00% of the total institutional ownership; ESSEX INVESTMENT MANAGEMENT CO LLC, holding 122,198 shares of the stock with an approximate value of $0.55 million in WISA stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $0.5 million 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 May and at the time of the May reporting period, where 12 institutional holders increased their position in Summit Wireless Technologies Inc. [NASDAQ:WISA] by around 572,839 shares. Additionally, 7 investors decreased positions by around 113,746 shares, while 6 investors held positions by with 164,572 shares. The mentioned changes placed institutional holdings at 851,157 shares, according to the latest SEC report filing. WISA stock had 8 new institutional investments in for a total of 446,007 shares, while 5 institutional investors sold positions of 94,075 shares during the same period.

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