Summit Wireless Technologies (NASDAQ:WISA) Stock Price Up 9.5%

Summit Wireless Technologies Inc (NASDAQ:WISA)’s stock price rose 9.5% on Wednesday . The stock traded as high as $0.93 and last traded at $0.92, approximately 127,109 shares changed hands during mid-day trading. An increase of 165% from the average daily volume of 47,986 shares. The stock had previously closed at $0.84.

WISA has been the topic of several analyst reports. ValuEngine downgraded shares of Summit Wireless Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Ascendiant Capital Markets set a $3.00 target price on shares of Summit Wireless Technologies and gave the company a “buy” rating in a report on Friday, August 16th.

The company’s fifty day moving average price is $1.00 and its two-hundred day moving average price is $1.50.

Summit Wireless Technologies (NASDAQ:WISA) last issued its earnings results on Wednesday, August 14th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). The firm had revenue of $0.35 million during the quarter. Summit Wireless Technologies had a negative net margin of 2,607.43% and a negative return on equity of 675.88%.

A hedge fund recently bought a new stake in Summit Wireless Technologies stock. First Republic Investment Management Inc. acquired a new stake in Summit Wireless Technologies Inc (NASDAQ:WISA) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,000 shares of the company’s stock, valued at approximately $34,000. First Republic Investment Management Inc. owned 0.11% of Summit Wireless Technologies as of its most recent SEC filing. Institutional investors own 1.94% of the company’s stock.

About Summit Wireless Technologies (NASDAQ:WISA)

Summit Wireless Technologies, Inc develops wireless audio integrated circuits for home entertainment and professional audio markets in the United States, Europe, and the Asia Pacific. The company offers TX modules for TVs, AV receivers, media hubs, and small dongles that connect through USB or HDMI ports; and speaker systems.

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