Summit Wireless Technologies, Inc. (NASDAQ:WISA) has a beta value of 0 and has seen 610,871 shares traded in the last trading session. The company, currently valued at $21.75 Million, closed the last trade at $2.78 per share which meant it lost -$0.14 on the day or -4.79% during that session. The WISA stock price is -612.23% off its 52-week high price of $19.8 and 38.13% above the 52-week low of $1.72. If we look at the company’s 10-day average daily trading volume, we find that it stood at 18.15 Million shares traded. The 3-month trading volume is 2.45 Million shares.
The consensus among analysts is that Summit Wireless Technologies, Inc. (WISA) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 2 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.35.
Summit Wireless Technologies, Inc. (NASDAQ:WISA) trade information
Despite being -4.79% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the WISA stock price touched $3.09-1 or saw a rise of 10.03%. Year-to-date, Summit Wireless Technologies, Inc. shares have moved -77.21%, while the 5-day performance has seen it change 10.76%. Over the past 30 days, the shares of Summit Wireless Technologies, Inc. (NASDAQ:WISA) have changed 22.47%. Short interest in the company has seen 84.86 Million shares shorted with days to cover at 34.64.
Wall Street analysts have a consensus price target for the stock at $10.33, which means that the shares’ value could jump 271.58% from current levels. The projected low price target is $5 while the price target rests at a high of $14. In that case, then, we find that the current price level is +403.6% off the targeted high while a plunge would see the stock lose 79.86% from current levels.
Summit Wireless Technologies, Inc. (WISA) estimates and forecasts
Figures show that Summit Wireless Technologies, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +5.7% over the past 6 months. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 90.3% and 86.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +36.9%.
2 analysts offering their estimates for the company have set an average revenue estimate of $950Million for the current quarter. 2 have an estimated revenue figure of $810Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $430Million and $490Million respectively for this quarter and the next, and analysts expect sales will grow by 120.9% for the current quarter and 65.3% for the next.
Earnings growth for 2020 is a modest +85.3%.
Summit Wireless Technologies, Inc. (NASDAQ:WISA)’s Major holders
Insiders own 18.66% of the company shares, while shares held by institutions stand at 4.33% with a share float percentage of 5.33%. Investors are also buoyed by the number of investors in a company, with Summit Wireless Technologies, Inc. having a total of 10 institutions that hold shares in the company. The top two institutional holders are Ingalls & Snyder with over 75.24 Thousand shares worth more than $142.96 Thousand. As of September 29, 2020, Ingalls & Snyder held 0.96% of shares outstanding.
The other major institutional holder is Susquehanna Fundamental Investments, LLC, with the holding of over 35.7 Thousand shares as of September 29, 2020. The firm’s total holdings are worth over $67.83 Thousand and represent 0.46% of shares outstanding.