WiSA Technologies, Inc. (NASDAQ:WISA) Sees Significant Drop in Short Interest

WiSA Technologies, Inc. (NASDAQ:WISA) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 4,140,000 shares, a drop of 30.3% from the March 15th total of 5,940,000 shares. Based on an average daily volume of 27,260,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in shares of WiSA Technologies in the 1st quarter valued at about $25,000. Anson Funds Management LP bought a new stake in shares of WiSA Technologies in the 1st quarter valued at about $118,000. Finally, Sabby Management LLC bought a new stake in shares of WiSA Technologies in the 1st quarter valued at about $181,000. Hedge funds and other institutional investors own 0.66% of the company’s stock.

WiSA Technologies Stock Performance

WiSA Technologies stock opened at $0.02 on Friday. The firm has a 50-day moving average price of $0.04 and a 200-day moving average price of $0.14. WiSA Technologies has a 12-month low of $0.02 and a 12-month high of $2.68.

Shares of WiSA Technologies are going to reverse split on the morning of Monday, April 15th. The 1-150 reverse split was announced on Monday, April 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 15th.

About WiSA Technologies

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.