WiSA Technologies price target lowered to $10 at Maxim after reverse split

Maxim analyst Jack Vander Aarde lowered the firm’s price target on WiSA Technologies to $10 from $100 and keeps a Buy rating on the shares ahead of its Q4 results this week. The analyst is updating the firm’s model to reflect the company’s two recent financings and a 1-for-100 reverse-stock split announced in January, though the firm "remains confident" that 2023 will represent a significant inflection point as reflected by its 2023 revenue growth forecast of 109% and its 5-year revenue CAGR of about 40%.