WiSA Technologies Inc. [WISA] Revenue clocked in at $4.40 million, down -66.60% YTD: What’s Next?

WiSA Technologies Inc. [NASDAQ: WISA] stock went on an upward path that rose over 89.47% on Monday, amounting to a one-week price increase of more than 68.22%. The company report on March 24, 2023 that WiSA Technologies Regains Compliance with Nasdaq Continued Listing Requirements.

WiSA Technologies, Inc. (Nasdaq: WISA or the “Company”), a developer of spatial audio wireless technology for smart devices and next-generation home entertainment systems, announced today that it is now in compliance with all Nasdaq continued listing requirements.

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As previously announced, on June 23, 2022, the Nasdaq Listing Qualifications staff (“Staff”) issued the Company a delist letter citing its failure to comply with the minimum bid price requirement under Listing Rule 5550(a)(2). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided a compliance period of 180 calendar days, which was subsequently extended until June 20, 2023, to regain compliance with Listing Rule 5550(a)(2). On January 18, 2023, however, Staff issued a delist letter as it had determined that Company’s stock had a closing bid price of $0.10 for 10 consecutive trading days, and therefore did not comply with the low-priced stocks rule for listing on The Nasdaq Stock Market LLC (“Nasdaq”). On January 20, 2023, the Company requested a hearing. On February 13, 2023, Staff informed the hearing panel (the “Panel”) that the Company had regained compliance with the minimum bid price requirement (including the $0.10 requirement) and thus was in compliance with Listing Rule 5550(a)(2). As a result of that Staff determination, the minimum bid price compliance matter was not brought before the Panel.

Over the last 12 months, WISA stock dropped by -97.17%. The one-year WiSA Technologies Inc. stock forecast points to a potential upside of 34.55. The average equity rating for WISA stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $7.02 million, with 1.97 million shares outstanding and 1.96 million shares in the current float. Compared to the average trading volume of 476.54K shares, WISA stock reached a trading volume of 46560910 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on WiSA 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 $5.50 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 WiSA 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 WiSA Technologies Inc. is set at 0.73, with the Price to Sales ratio for WISA stock in the period of the last 12 months amounting to 1.60.

WISA Stock Performance Analysis:

WiSA Technologies Inc. [WISA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 68.22. With this latest performance, WISA shares dropped by -16.86% in over the last four-week period, additionally sinking by -93.33% over the last 6 months – not to mention a drop of -97.17% 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 45.09, with the RSI for the last a single of trading hit 54.32, and the three-weeks RSI is set at 40.63 for WiSA Technologies Inc. [WISA]. The present Moving Average for the last 50 days of trading for this stock 6.5800, while it was recorded at 2.2800 for the last single week of trading, and 37.3000 for the last 200 days.

Insight into WiSA Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and WiSA Technologies Inc. [WISA] shares currently have an operating margin of -536.23 and a Gross Margin at +11.74. WiSA Technologies Inc.’s Net Margin is presently recorded at -479.97.

Return on Total Capital for WISA is now -239.20, given the latest momentum, and Return on Invested Capital for the company is -216.53. Return on Equity for this stock declined to -224.62, with Return on Assets sitting at -104.73.

Reflecting on the efficiency of the workforce at the company, WiSA Technologies Inc. [WISA] managed to generate an average of -$329,612 per employee. Receivables Turnover for the company is 13.82 with a Total Asset Turnover recorded at a value of 0.22.WiSA Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 3.00.

WiSA Technologies Inc. [WISA] Insider Position Details

There are presently around $0 million, or 14.00% of WISA stock, in the hands of institutional investors. The top three institutional holders of WISA stocks are: INGALLS & SNYDER LLC with ownership of 20,700, which is approximately 2857.143% of the company’s market cap and around 5.50% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 1,925 shares of the stock with an approximate value of $4000.0 in WISA stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $3000.0 in WISA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in WiSA Technologies Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 10 institutional holders increased their position in WiSA Technologies Inc. [NASDAQ:WISA] by around 24,507 shares. Additionally, 6 investors decreased positions by around 3,917 shares, while 9 investors held positions by with 160 shares. The mentioned changes placed institutional holdings at 28,264 shares, according to the latest SEC report filing. WISA stock had 7 new institutional investments in for a total of 3,550 shares, while 3 institutional investors sold positions of 3,869 shares during the same period.


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