Summit Wireless Technologies Inc (NASDAQ:WISA) Short Interest Down 26.9% in June

Summit Wireless Technologies Inc (NASDAQ:WISA) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 69,500 shares, a drop of 26.9% from the May 30th total of 95,100 shares. Based on an average daily volume of 74,900 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.9% of the company’s shares are sold short.

A hedge fund recently bought a new stake in Summit Wireless Technologies stock. First Republic Investment Management Inc. acquired a new position in Summit Wireless Technologies Inc (NASDAQ:WISA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,000 shares of the company’s stock, valued at approximately $34,000. First Republic Investment Management Inc. owned approximately 0.11% of Summit Wireless Technologies at the end of the most recent quarter. Hedge funds and other institutional investors own 2.02% of the company’s stock.

Shares of NASDAQ:WISA traded down $0.11 during midday trading on Thursday, reaching $1.18. The company had a trading volume of 53,593 shares, compared to its average volume of 44,082. Summit Wireless Technologies has a 1-year low of $0.98 and a 1-year high of $5.61. The company has a fifty day simple moving average of $1.28.

Summit Wireless Technologies (NASDAQ:WISA) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). The company had revenue of $0.47 million during the quarter.

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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