Summit Wireless Technologies (NASDAQ:WISA) Given a $3.00 Price Target by Ascendiant Capital Markets Analysts

Summit Wireless Technologies (NASDAQ:WISA) received a $3.00 target price from Ascendiant Capital Markets in a note issued to investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price would indicate a potential upside of 160.87% from the company’s previous close.

NASDAQ WISA traded up $0.06 during mid-day trading on Friday, reaching $1.15. The stock had a trading volume of 136,698 shares, compared to its average volume of 57,817. Summit Wireless Technologies has a 1 year low of $0.76 and a 1 year high of $5.61. The company has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.74.

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

An institutional investor recently bought a new position in Summit Wireless Technologies stock. First Republic Investment Management Inc. acquired a new position in Summit Wireless Technologies Inc (NASDAQ:WISA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 as of its most recent SEC filing. 1.93% of the stock is currently owned by institutional investors and hedge funds.

Summit Wireless Technologies Company Profile

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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