Summit Wireless Technologies Inc (NASDAQ:WISA) Short Interest Down 48.6% in July

Summit Wireless Technologies Inc (NASDAQ:WISA) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 20,500 shares, a drop of 48.6% from the June 30th total of 39,900 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 0.0 days. Approximately 0.3% of the company’s shares are short sold.

NASDAQ WISA opened at $2.25 on Friday. The firm has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $1.66. Summit Wireless Technologies has a one year low of $2.12 and a one year high of $26.60. The firm has a market cap of $17.37 million, a price-to-earnings ratio of -0.19 and a beta of -1.17.

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

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

A hedge fund recently bought a new stake in Summit Wireless Technologies stock. Ingalls & Snyder LLC acquired a new stake in Summit Wireless Technologies Inc (NASDAQ:WISA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 130,000 shares of the company’s stock, valued at approximately $45,000. Ingalls & Snyder LLC owned 9.72% of Summit Wireless Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 5.83% of the company’s stock.

About Summit Wireless Technologies

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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