Envestnet Asset Management, Inc. recently announced the acquisition of new stake in Summit Wireless Technologies Inc. (NASDAQ:WISA). The institutional investor has increased its shareholding in the Technology company by 1,900.18% to 88028.0 shares with purchase of 83627.0 shares. This fresh investment now brings its stake to 1.14% valued currently at $0.19 million. In addition, Ingalls & Snyder LLC raised its holdings by 6500.0 to 6500.0 shares.
With over 0.16 million Summit Wireless Technologies Inc. (WISA) shares trading Wednesday and a closing price of $2.23 on the day, the dollar volume was approximately $0.35 million. The shares have shown a negative weekly performance of -5.51% and its price on 07/28/20 lost nearly 0.00%. Currently, there are 7.72M common shares owned by the public and among those 2.92M shares have been available to trade.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 2,096,158 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
USAA Extended Market Index Fund owns 1220.0 shares of the company’s stock, all valued at over $2623.0. The company bought an additional 1073.0 shares recently to bring their total holdings to about 0.02% of the shares outstanding.
Shares of Summit Wireless Technologies Inc. (NASDAQ: WISA) opened at $2.22, down -$0.01 from a prior closing price of $2.23. However, the script later closed the day at $2.23, down 0.00%. The company’s stock has a 5-day price change of -5.51% and -11.86% over the past three months. WISA shares are trading -81.72% year to date (YTD), with the 12-month market performance down to -88.51% lower. It has a 12-month low price of $2.12 and touched a high of $26.60 over the same period. Currently, 0.16 million shares have been traded, compared to an average intraday trading volume of 1.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.62%, -4.30%, and -71.62% respectively.
Institutional ownership of Summit Wireless Technologies Inc. (NASDAQ: WISA) shares accounts for 3.00% of the company’s 7.72M shares outstanding. Mutual fund holders own 1.37%, while other institutional holders and individual stakeholders account for 1.41% and 0.02% respectively.
It has a market capitalization of $17.37M. The earnings-per-share (ttm) stands at -$11.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.11% over the week and 5.46% over the month.
Analysts forecast that Summit Wireless Technologies Inc. (WISA) will achieve an EPS of -$0.4 for the current quarter, -$0.69 for the next quarter and -$2.75 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.4. Comparatively, EPS for the current quarter was -$3.2 a year ago. Earnings per share for the fiscal year are expected to increase by 85.30%, and 11.00% over the next financial year.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”