H.C. Wainwright Reiterates Their Buy Rating on Summit Wireless Technologies (WISA)

In a report released today, Kevin Dede from H.C. Wainwright reiterated a Buy rating on Summit Wireless Technologies (WISA), with a price target of $5.50. The company’s shares closed last Tuesday at $4.55.

According to TipRanks.com, Dede is a 4-star analyst with an average return of 15.3% and a 45.8% success rate. Dede covers the Technology sector, focusing on stocks such as WISeKey International Holding, Magic Software Enterprises, and POET Technologies.

Summit Wireless Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $5.25.

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Based on Summit Wireless Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $607K and GAAP net loss of $2.99 million. In comparison, last year the company earned revenue of $419K and had a GAAP net loss of $2.71 million.

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Summit Wireless Technologies, Inc. engages in the manufacture of wireless audio products. It offers semiconductors and wireless modules to consumer electronics companies and also focuses on implementing software licensing business segment. Its products include Summit TX-SD, Summit RX-SD, TX Dev Kit, RX Dev Kit, @RX control board, 30 Watt Amp, DAC board and USB TX. The company was founded on July 23, 2010 and is headquartered in San Jose, CA.

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