42.6 F
New York
Wednesday, December 2, 2020

Investor Confidence is Rising for Summit Wireless Technologies Inc. (NASDAQ:WISA)

Must read

The Last Few Sessions Have Allena Pharmaceuticals Inc. (ALNA) Soaring

Allena Pharmaceuticals Inc. (ALNA) shares are trading at lower $1.35 and the avg recommendation for the stock is Strong Buy. To add more color...

Renewed Optimism is Surrounding ServiceNow Inc. (NYSE:NOW)

ServiceNow Inc. (NOW) shares are trading at higher $534.55 and the avg recommendation for the stock is Strong Buy, while the current analyst price...

When Will Southern Copper Corporation (SCCO) Slow Down

Southern Copper Corporation (SCCO) shares are trading at lower $59.37 and the avg recommendation for the stock is Hold, while the current analyst price...

Will Archrock Inc. (AROC) Find a Support Level Soon?

Archrock Inc. (AROC) shares are trading at lower $7.77 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Summit Wireless Technologies Inc. (WISA) shares are trading at higher $2.37.

To add more color to this target, the company’s high over the last year is $26.60 and the low is $2.12. Over the last 52 weeks, WISA is down -91.09% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, WISA reported a profit of $12000.0. Summit Wireless Technologies Inc. also saw revenues increase to $0.35 million. In addition, WISA has free cash flow of -$4.84 million as of 06-2020. The company’s EBITDA came in at -$0.63 million which compares well with its peers.

Find out when WISA reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. WISA has a short ratio of 0.07 and outstanding shares of 7.72M.

Company Outlook

WISA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.7 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -11.63. Summit Wireless Technologies Inc. WISA also noted assets of $15.63 million at the end of the last quarter. Investors should also keep an eye on sector updates as WISA has historically followed its peers on positive news.

All told, Summit Wireless Technologies Inc. WISA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, WISA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Summit Wireless Technologies Inc. WISA is now commanding a market cap of 17.47M and a float of 6.67M. WISA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of WISA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in WISA, either long or short, and we have not been compensated for this article.

Latest article

Open Lending Corporation (LPRO)’s Stock is Jumping, Here is Why

Open Lending Corporation (LPRO) shares are trading at lower $28.12 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Can We Expect More Volatility From Universal Health Services Inc. (UHS)?

Universal Health Services Inc. (UHS) shares are trading at lower $130.58 and the avg recommendation for the stock is Moderate Buy, while the current...

When Will IQVIA Holdings Inc. (IQV) Slow Down

IQVIA Holdings Inc. (IQV) shares are trading at higher $168.99 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) is Gaining Momentum on Earnings Catalyst

Ironwood Pharmaceuticals Inc. (IRWD) shares are trading at lower $11.52 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Is the Rough Ride Over for Associated Banc-Corp (ASB)

Associated Banc-Corp (ASB) shares are trading at lower $15.32 and the avg recommendation for the stock is Hold, while the current analyst price target...