This trade activity should not be overlooked: WiSA Technologies Inc. (WISA)

WiSA Technologies Inc. (NASDAQ: WISA) stock jumped 13.33% on Thursday to $1.36 against a previous-day closing price of $1.20. With 2.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.25 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $1.4100 whereas the lowest price it dropped to was $1.1200. The 52-week range on WISA shows that it touched its highest point at $87.31 and its lowest point at $0.95 during that stretch. It currently has a 1-year price target of $6.33. Beta for the stock currently stands at -0.18.

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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 11.93%, but this was up by 36.00% over a month. Three-month performance dropped to -68.59% while six-month performance fell -93.08%. The stock lost -98.14% in the past year, while it has lost -87.38% so far this year. A look at the trailing 12-month EPS for WISA yields -95.09 with Next year EPS estimates of -4.87. For the next quarter, that number is -3.02. This implies an EPS growth rate of 21.20% for this year and 54.70% for next year.

Float and Shares Shorts:

At present, 3.80 million WISA shares are outstanding with a float of 1.74 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.18 million, which was 4.71% higher than short shares on Mar 30, 2023. 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 0.76% of WISA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.01% of WISA, in contrast to 1.24% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in WISA with 3.01% of the stake, Sabby Management LLC holds 114,556 shares worth 114,556. A second-largest stockholder of WISA, Anson Funds Management LP, holds 74,929 shares, controlling over 1.97% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in WISA, holding 45,800 shares or 1.21% stake. With a 1.21% stake in WISA, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 45,800 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.02% of WISA stock, is the second-largest Mutual Fund holder. It holds 727 shares valued at 851.0. Fidelity Nasdaq Composite Index F holds 0.01% of the stake in WISA, owning 510 shares worth 597.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, WISA reported revenue of $946.00k and operating income of -$4.10M. The EBITDA in the recently reported quarter was -$4.08M and diluted EPS was -$27.00.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WISA since 0 analysts follow the stock currently. 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 $10.00 and a low target of $4.00, the average target price over the next 12 months is $6.33. Based on these targets, WISA could surge 635.29% to reach the target high and rise by 194.12% to reach the target low. Reaching the average price target will result in a growth of 365.44% 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.

Summary of Insider Activity:

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

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