H.C. Wainwright analyst Kevin Dede initiated coverage with a Buy rating on Summit Wireless Technologies (WISA) today and set a price target of $3.50. The company’s shares closed last Friday at $2.61, close to its 52-week low of $1.72.
According to TipRanks.com, Dede is a 1-star analyst with an average return of -1.0% and a 39.9% 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 $4.25, which is a 62.2% upside from current levels. In a report issued on November 30, Maxim Group also reiterated a Buy rating on the stock with a $5.00 price target.
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Summit Wireless Technologies’ market cap is currently $20.42M and has a P/E ratio of -0.10. The company has a Price to Book ratio of 2.20.
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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.
