WiSA Technologies Inc. (WISA) is looking forward to a strong quarter

WiSA Technologies Inc. (NASDAQ: WISA) stock jumped 13.72% on Monday to $0.16 against a previous-day closing price of $0.14. With 124.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 20.82 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $0.1750 whereas the lowest price it dropped to was $0.1276. The 52-week range on WISA shows that it touched its highest point at $1.49 and its lowest point at $0.08 during that stretch. It currently has a 1-year price target of $2.75. Beta for the stock currently stands at -0.17.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WISA was up-trending over the past week, with a rise of 74.10%, but this was up by 77.38% over a month. Three-month performance dropped to -72.55% while six-month performance fell -76.74%. The stock lost -86.55% in the past year, while it has gained 48.42% so far this year. A look at the trailing 12-month EPS for WISA yields -1.05 with Next year EPS estimates of -0.60. For the next quarter, that number is -0.19. This implies an EPS growth rate of 57.40% for this year and 36.80% for next year.

Float and Shares Shorts:

At present, 71.12 million WISA shares are outstanding with a float of 69.96 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.11 million, which was 0.64% higher than short shares on Sep 14, 2022. In addition to Mr. Brett A. Moyer as the firm’s Chairman, Pres & CEO, Mr. George Oliva serves as its CFO & Sec.


Institutional Ownership:

Through their ownership of 14.43% of WISA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 14.47% of WISA, in contrast to 1.77% held by mutual funds. Shares owned by individuals account for 0.22%. As the largest shareholder in WISA with 13.55% of the stake, Goldman Sachs & Co. LLC holds 9,146,446 shares worth 9,146,446. A second-largest stockholder of WISA, The Vanguard Group, Inc., holds 347,500 shares, controlling over 0.52% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in WISA, holding 147,049 shares or 0.22% stake. With a 0.11% stake in WISA, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 72,625 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.08% of WISA stock, is the second-largest Mutual Fund holder. It holds 50,912 shares valued at 5498.0. Fidelity Series Total Market Inde holds 0.02% of the stake in WISA, owning 14,292 shares worth 1544.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WISA since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WISA analysts setting a high price target of $1.75 and a low target of $1.00, the average target price over the next 12 months is $1.38. Based on these targets, WISA could surge 993.75% to reach the target high and rise by 525.0% to reach the target low. Reaching the average price target will result in a growth of 762.5% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WISA will report FY 2022 earnings on 03/08/2024. Analysts have provided yearly estimates in a range of -$0.71 being high and -$0.97 being low. For WISA, this leads to a yearly average estimate of -$0.84. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. WiSA Technologies Inc. surprised analysts by -$0.09 when it reported -$0.31 EPS against a consensus estimate of -$0.22. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.23. The average estimate for the next quarter is thus -$0.15.

Summary of Insider Activity:

Insiders traded WISA stock several times over the past three months with 0 Buys and 6 Sells. In these transactions, 0 shares were bought while 95,623 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 75,000 while 150,574 shares were sold.

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