AIGH Capital Management LLC Acquires Shares of 215,000 Energous Corporation $WATT

AIGH Capital Management LLC bought a new position in shares of Energous Corporation (NASDAQ:WATT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 215,000 shares of the industrial products company’s stock, valued at approximately $3,373,000.

Other hedge funds have also modified their holdings of the company. 3Chopt Investment Partners LLC purchased a new position in shares of Energous in the first quarter worth about $282,000. Geode Capital Management LLC raised its holdings in Energous by 85.4% in the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Energous by 82.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 9,250 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Energous during the 3rd quarter worth approximately $1,202,000. 4.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mallorie Sara Burak bought 1,867 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the acquisition, the chief executive officer directly owned 26,999 shares of the company’s stock, valued at $714,663.53. This trade represents a 7.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings lowered Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Zacks Research upgraded Energous to a “hold” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Energous Trading Down 3.0%

Shares of WATT opened at $17.96 on Thursday. Energous Corporation has a 12-month low of $3.62 and a 12-month high of $36.98. The firm has a 50-day moving average price of $25.87 and a 200 day moving average price of $16.64. The firm has a market capitalization of $98.78 million, a P/E ratio of -4.38 and a beta of 1.54.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.