Summit Wireless Technologies (NASDAQ:WISA) Trading 9.5% Higher

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

Several research analysts have recently commented on the company. ValuEngine lowered Summit Wireless Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Ascendiant Capital Markets set a $3.00 target price on Summit Wireless Technologies and gave the stock a “buy” rating in a research report on Friday, August 16th.

The firm has a 50-day moving average price of $1.00 and a 200 day moving average price of $1.50.

Summit Wireless Technologies (NASDAQ:WISA) last issued its earnings results on Wednesday, August 14th. The company reported ($0.16) EPS for the quarter, missing the 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 return on equity of 675.88% and a negative net margin of 2,607.43%.

A hedge fund recently bought a new stake in Summit Wireless Technologies stock. First Republic Investment Management Inc. purchased a new position in Summit Wireless Technologies Inc (NASDAQ:WISA) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,000 shares of the company’s stock, valued at approximately $34,000. First Republic Investment Management Inc. owned about 0.11% of Summit Wireless Technologies at the end of the most recent quarter. Hedge funds and other 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.

Further Reading: How Do Front-End Loads Impact an Investment?

Receive News & Ratings for Summit Wireless Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Wireless Technologies and related companies with's FREE daily email newsletter.