WiSA Technologies Inc [NASDAQ: WISA] loss -6.38% on the last trading session, reaching $0.02 price per share at the time. The company report on March 26, 2024 at 9:00 AM that WiSA Technologies Announces Pricing of $2.3 Million Registered Direct Offering and Concurrent Private Placement Priced At-The-Market.
WiSA Technologies, Inc. (Nasdaq: WISA), a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 76,676,478 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 76,676,478 shares of common stock. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and warrant is $0.03. The warrants will be exercisable on the date of stockholder approval at an exercise price of $0.04 per share and will expire five years from such stockholder approval.
The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $2.3 million, before deducting the placement agent’s fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about March 27, 2024, subject to the satisfaction of customary closing conditions.
If compared to the average trading volume of 25.39M shares, WISA reached a trading volume of 55815487 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 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 $2.00 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 0.00, with the Price to Sales ratio for WISA stock in the period of the last 12 months amounting to 2.65.
Trading performance analysis for WISA stock
WiSA Technologies Inc [WISA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.76. With this latest performance, WISA shares dropped by -43.88% in over the last four-week period, additionally sinking by -95.51% over the last 6 months – not to mention a drop of -98.63% 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 29.06, with the RSI for the last a single of trading hit 31.95, and the three-weeks RSI is set at 27.79 for WiSA Technologies Inc [WISA]. The present Moving Average for the last 50 days of trading for this stock 0.0479, while it was recorded at 0.0229 for the last single week of trading, and 0.4524 for the last 200 days.
WiSA Technologies Inc [WISA]: A deeper dive into fundamental analysis
WiSA Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.37 and a Current Ratio set at 1.12.
WiSA Technologies Inc [WISA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, WiSA Technologies Inc posted -10.57/share EPS, while the average EPS was predicted by analysts to be reported at -17.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 39.60%. 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 Institutional ownership at WiSA Technologies Inc [WISA]
The top three institutional holders of WISA stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in WISA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in WISA stock with ownership which is approximately 5.8386%.
