WiSA Technologies Inc (NASDAQ: WISA) Stock Price Forecast: $100

WiSA Technologies Inc (NASDAQ:WISA) shares, rose in value, with the stock price up by 10.96% to the previous day’s close as strong demand from buyers drove the stock to $0.02.

Actively observing the price movement in the last trading, the stock closed the session at $0.02. The value of beta (5-year monthly) was 0.04. Referring to stock’s 52-week performance, its high was $2.68, and the low was $0.02. On the whole, WISA has fluctuated by -40.15% over the past month.

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With the market capitalization of WiSA Technologies Inc currently standing at about $6.10 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 13, 2024 – Mar 18, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.48, which is expected to increase to -$0.19 for fiscal year -$2.89 and then to about -$1.41 by fiscal year 2024. Data indicates that the EPS growth is expected to be 96.50% in 2024, while the next year’s EPS growth is forecast to be 51.20%.

Analysts have estimated the company’s revenue for the quarter at $750k, with a low estimate of $600k and a high estimate of $900k. According to the average forecast, sales growth in current quarter could jump down -18.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $2.45 million, representing a decrease of -27.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WISA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WISA currently trading nearly -15.76% and -53.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.72, while the 7-day volatility ratio is showing 12.42% which for the 30-day chart, stands at 14.27%. Furthermore, WiSA Technologies Inc (WISA)’s beta value is -0.02, and its average true range (ATR) is 0.00.

A comparison of WiSA Technologies Inc (WISA) with its peers suggests the former has fared considerably weaker in the market. WISA showed an intraday change of 10.96% in last session, and over the past year, it shrunk by -98.46%%.

Data on historical trading for WiSA Technologies Inc (NASDAQ:WISA) indicates that the trading volumes over the past 10 days have averaged 41.54 million and over the past 3 months, they’ve averaged 20.68 million. According to company’s latest data on outstanding shares, there are 250.94 million shares outstanding.

Nearly 10.34% of WiSA Technologies Inc’s shares belong to company insiders and institutional investors own 0.08% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.94 million shares as on Mar 15, 2024, resulting in a short ratio of 0.16. According to the data, the short interest in WiSA Technologies Inc (WISA) stood at 10.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 1.81 million. The stock has fallen by -79.21% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WISA stock heading into the next quarter.