Wall Street analysts predict that Energous Corporation (NASDAQ:WATT) will report earnings of ($0.59) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Energous Corporation’s earnings, with the lowest EPS estimate coming in at ($0.61) and the highest estimate coming in at ($0.57). Energous Corporation posted earnings per share of ($0.75) in the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, March 14th.
On average, analysts expect that Energous Corporation will report full year earnings of ($2.13) per share for the current year, with EPS estimates ranging from ($2.44) to ($1.57). For the next fiscal year, analysts anticipate that the firm will post earnings of ($1.27) per share, with EPS estimates ranging from ($2.32) to $0.18. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Energous Corporation.
Energous Corporation (NASDAQ:WATT) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.03). Energous Corporation had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. The company had revenue of $0.25 million during the quarter, compared to analyst estimates of $1.20 million.
A number of research firms have weighed in on WATT. ValuEngine raised shares of Energous Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research cut shares of Energous Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub cut shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.67.
In other news, insider Michael Aaron Leabman sold 10,515 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $9.31, for a total transaction of $97,894.65. Following the transaction, the insider now owns 181,889 shares of the company’s stock, valued at $1,693,386.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Neeraj Sahejpal sold 3,705 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $9.31, for a total transaction of $34,493.55. Following the transaction, the vice president now directly owns 101,115 shares in the company, valued at approximately $941,380.65. The disclosure for this sale can be found here. Insiders have sold 51,632 shares of company stock worth $562,052 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Energous Corporation by 4.1% in the first quarter. Geode Capital Management LLC now owns 129,393 shares of the industrial products company’s stock worth $2,018,000 after acquiring an additional 5,154 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Energous Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 632,792 shares of the industrial products company’s stock worth $9,872,000 after acquiring an additional 27,875 shares during the last quarter. Robecosam AG bought a new position in Energous Corporation in the second quarter worth about $1,645,000. Wells Fargo & Company MN lifted its holdings in Energous Corporation by 75.6% in the first quarter. Wells Fargo & Company MN now owns 30,217 shares of the industrial products company’s stock worth $472,000 after acquiring an additional 13,013 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 607 shares during the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Energous Corporation (NASDAQ WATT) traded down $0.60 during midday trading on Friday, reaching $8.79. The company had a trading volume of 678,300 shares, compared to its average volume of 532,805. Energous Corporation has a 52-week low of $6.91 and a 52-week high of $20.55.
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About Energous Corporation
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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