WiSA Technologies Inc (NASDAQ: WISA): Why Investors Shouldn’t Ditch WISA Stock In 2023

In the last trading session, 1.08 million WiSA Technologies Inc (NASDAQ:WISA) shares changed hands as the company’s beta touched 0.22. With the company’s per share price at $0.13 changed hands at $0.0 or -0.52% during last session, the market valuation stood at $2.37M. WISA’s last price was a discount, traded about -24476.92% off its 52-week high of $31.95. The share price had its 52-week low at $0.13. When we look at WiSA Technologies Inc’s average trading volume, we note the 10-day average is 4.71 million shares, with the 3-month average coming to 1.93 million.

Analysts gave the WiSA Technologies Inc (WISA) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended WISA as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. WiSA Technologies Inc’s EPS for the current quarter is expected to be -$0.81.

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WiSA Technologies Inc (NASDAQ:WISA) trade information

Instantly WISA was in red as seen at the end of in last trading. With action -8.00%, the performance over the past five days has been red. The drop to weekly highs of 0.1590 on Friday, 11/17/23 subtracted -0.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -98.76%, with the 5-day performance at -8.00% in the red. However, in the 30-day time frame, WiSA Technologies Inc (NASDAQ:WISA) is -34.77% down. Looking at the short shares, we see there were 0.22 million shares sold at short interest cover period of 0.07 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.50, meaning bulls need an upside of 97.64% from its current market value. According to analyst projections, WISA’s forecast low is $4.00 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -5284.62% plunge from its current level, while the stock would need to soar -2976.92% for it to hit the projected low.

WiSA Technologies Inc (WISA) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for WiSA Technologies Inc will rise 97.40%, while the growth in revenue is estimated to hit 1.90% for the next quarter. Year-over-year growth is forecast to reach -24.20% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $1.15 million. 2 analysts are of the opinion that WiSA Technologies Inc’s revenue for the quarter ending Mar 2024 will be $650k. The company’s revenue for the corresponding quarters a year ago was $916k and $469k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 25.50%. The estimates for the next quarter sales put growth at 38.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 52.31%. The 2023 estimates are for WiSA Technologies Inc earnings to increase by 96.03%.

WISA Dividends

WiSA Technologies Inc is expected to release its next quarterly earnings report on November 15.

WiSA Technologies Inc (NASDAQ:WISA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 6.43% of WiSA Technologies Inc shares while 7.28% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.78%. There are 7.28% institutions holding the WiSA Technologies Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 0.26% of the shares, roughly 45800.0 WISA shares worth $6109.0.

Geode Capital Management, LLC holds the second largest percentage of outstanding shares, with 0.17% or 29778.0 shares worth $3972.0 as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 45800.0 shares estimated at $6109.0 under it, the former controlled 0.26% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.00% of the shares, roughly 727.0 shares worth around $96.0.

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