Summit Wireless Technologies (NASDAQ:WISA) Shares Down 4.2%

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Summit Wireless Technologies Inc (NASDAQ:WISA) fell 4.2% on Thursday . The stock traded as low as $2.36 and last traded at $2.30, 21,179 shares traded hands during trading. A decline of 96% from the average session volume of 472,147 shares. The stock had previously closed at $2.40.

Separately, ValuEngine raised Summit Wireless Technologies from a “hold” rating to a “buy” rating in a research report on Monday, May 11th.

The stock has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.20 and a beta of -1.19. The firm has a fifty day moving average of $2.46 and a 200-day moving average of $1.25.

Summit Wireless Technologies (NASDAQ:WISA) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($2.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.00) by ($0.19). The business had revenue of $0.41 million during the quarter. Summit Wireless Technologies had a negative net margin of 754.90% and a negative return on equity of 1,130.69%.

An institutional investor recently bought a new position in Summit Wireless Technologies stock. Ingalls & Snyder LLC purchased a new stake in shares of Summit Wireless Technologies Inc (NASDAQ:WISA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 130,000 shares of the company’s stock, valued at approximately $45,000. Ingalls & Snyder LLC owned 9.72% of Summit Wireless Technologies at the end of the most recent quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

Summit Wireless Technologies Company Profile (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.

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