Energous Corporation (NASDAQ:WATT) gapped down prior to trading on Monday . The stock had previously closed at $25.04, but opened at $23.02. Energous shares last traded at $20.00, with a volume of 5205200 shares traded.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Energous from a “sell” rating to a “hold” rating in a report on Saturday. Ladenburg Thalmann Financial Services increased their price objective on Energous from $20.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Roth Capital set a $45.80 price objective on Energous and gave the stock a “buy” rating in a report on Thursday, December 28th. Finally, ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.93.
The company has a market cap of $408.29, a PE ratio of -7.18 and a beta of 1.93.
Energous (NASDAQ:WATT) last announced its 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 had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $1.20 million. equities analysts anticipate that Energous Corporation will post -2.18 EPS for the current fiscal year.
In related news, Director John Gaulding sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $29.66, for a total transaction of $741,500.00. Following the completion of the transaction, the director now owns 73,312 shares of the company’s stock, valued at approximately $2,174,433.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Neeraj Sahejpal sold 2,846 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $9.35, for a total value of $26,610.10. Following the transaction, the vice president now directly owns 89,123 shares of the company’s stock, valued at approximately $833,300.05. The disclosure for this sale can be found here. Insiders sold a total of 282,562 shares of company stock valued at $7,128,895 in the last three months. Corporate insiders own 6.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Energous by 26.0% during the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock valued at $175,000 after buying an additional 2,216 shares in the last quarter. SG Americas Securities LLC bought a new position in Energous during the 3rd quarter valued at approximately $187,000. Frontier Investment Mgmt Co. bought a new position in Energous during the 2nd quarter valued at approximately $236,000. The Manufacturers Life Insurance Company increased its position in Energous by 32.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock valued at $255,000 after buying an additional 3,855 shares in the last quarter. Finally, Westside Investment Management Inc. increased its position in Energous by 9.1% during the 2nd quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock valued at $287,000 after buying an additional 1,500 shares in the last quarter. 38.97% of the stock is owned by institutional investors.
Energous Company Profile
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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