Energous Corp (NASDAQ:WATT) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,400,000 shares, an increase of 29.3% from the August 15th total of 2,630,000 shares. Based on an average trading volume of 2,190,000 shares, the short-interest ratio is presently 1.6 days.
Shares of Energous stock opened at $3.07 on Thursday. Energous has a fifty-two week low of $0.61 and a fifty-two week high of $4.58. The firm has a market cap of $127.81 million, a PE ratio of -3.04 and a beta of 3.95. The business’s fifty day moving average is $3.34 and its two-hundred day moving average is $2.28. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.05.
Energous (NASDAQ:WATT) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). Energous had a negative return on equity of 171.68% and a negative net margin of 13,071.48%. The business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts anticipate that Energous will post -0.84 EPS for the current year.
In other Energous news, COO Cesar Johnston sold 19,296 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $3.30, for a total transaction of $63,676.80. Following the sale, the chief operating officer now owns 395,785 shares in the company, valued at approximately $1,306,090.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rahul G. Patel sold 7,712 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $3.30, for a total value of $25,449.60. Following the sale, the director now owns 14,021 shares in the company, valued at approximately $46,269.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,873 shares of company stock worth $202,999. Insiders own 5.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. RMR Wealth Builders purchased a new position in shares of Energous during the 2nd quarter worth $25,000. Alliancebernstein L.P. raised its position in shares of Energous by 171.7% in the 1st quarter. Alliancebernstein L.P. now owns 51,900 shares of the industrial products company’s stock worth $39,000 after buying an additional 32,800 shares during the period. Wells Fargo & Company MN raised its position in shares of Energous by 68.2% in the 1st quarter. Wells Fargo & Company MN now owns 57,451 shares of the industrial products company’s stock worth $43,000 after buying an additional 23,299 shares during the period. Bank of New York Mellon Corp raised its position in shares of Energous by 42.6% in the 1st quarter. Bank of New York Mellon Corp now owns 101,375 shares of the industrial products company’s stock worth $75,000 after buying an additional 30,273 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Energous in the 2nd quarter worth $192,000. 10.46% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut Energous from a “buy” rating to a “sell” rating in a report on Thursday, August 20th.
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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