WiSA Technologies (NASDAQ:WISA) Stock Price Down 5.7%

WiSA Technologies, Inc. (NASDAQ:WISA)’s stock price dropped 5.7% during trading on Thursday . The company traded as low as $1.65 and last traded at $1.65. Approximately 270,770 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 3,872,535 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets decreased their target price on WiSA Technologies from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th.

WiSA Technologies Stock Performance

The company has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $3.03.

WiSA Technologies (NASDAQ:WISA) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.50) earnings per share for the quarter. WiSA Technologies had a negative return on equity of 964.80% and a negative net margin of 2,930.80%. The company had revenue of $0.35 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in WiSA Technologies stock. Anson Funds Management LP acquired a new position in WiSA Technologies, Inc. (NASDAQ:WISA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,323,458 shares of the company’s stock, valued at approximately $448,000. Anson Funds Management LP owned approximately 1,211.56% of WiSA Technologies as of its most recent SEC filing. 0.66% of the stock is currently owned by institutional investors.

WiSA Technologies Company Profile

WiSA Technologies, Inc develops, manufactures, and sells audio wireless technology for smart devices and next-generation home entertainment systems in the United States and Europe. The company offers wireless modules. It serves primarily to consumer electronics companies. The company was formerly known as Summit Wireless Technologies, Inc and changed its name to WiSA Technologies Inc in March 2022.