Energous Corp (NASDAQ:WATT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.55, but opened at $8.21. Energous shares last traded at $8.21, with a volume of 13048 shares traded.
A number of equities analysts have recently commented on WATT shares. ValuEngine lowered shares of Energous from a “hold” rating to a “sell” rating in a research report on Monday, September 17th. LADENBURG THALM/SH SH lowered shares of Energous from a “buy” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Wednesday, October 31st. National Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of Energous in a research report on Wednesday, October 31st. Finally, Roth Capital set a $25.00 target price on shares of Energous and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $22.00.
The stock has a market capitalization of $210.34 million, a P/E ratio of -3.33 and a beta of 1.91.
Energous (NASDAQ:WATT) last issued its earnings results on Tuesday, October 30th. The industrial products company reported ($0.49) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.49). The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.20 million. Energous had a negative net margin of 10,168.85% and a negative return on equity of 170.01%. On average, analysts forecast that Energous Corp will post -2 EPS for the current fiscal year.
In related news, VP Neeraj Sahejpal sold 3,675 shares of Energous stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $6.87, for a total transaction of $25,247.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Cesar Johnston sold 6,300 shares of Energous stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $6.87, for a total transaction of $43,281.00. Following the transaction, the executive vice president now directly owns 151,600 shares in the company, valued at $1,041,492. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,134 shares of company stock worth $129,141. 6.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Calton & Associates Inc. purchased a new position in Energous during the third quarter valued at approximately $101,000. Cheyne Capital Management UK LLP purchased a new position in Energous during the third quarter valued at approximately $101,000. Fox Run Management L.L.C. purchased a new position in Energous during the third quarter valued at approximately $132,000. Jane Street Group LLC purchased a new position in Energous during the third quarter valued at approximately $184,000. Finally, Virtu Financial LLC purchased a new position in Energous during the third quarter valued at approximately $301,000. 24.31% of the stock is currently owned by institutional investors.
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Energous Company Profile (NASDAQ:WATT)
Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.
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