Energous (NASDAQ:WATT) Share Price Breaks Below 50-Day Moving Average – Should You Sell?

Energous Corporation (NASDAQ:WATT)’s share price passed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $13.43 and traded as low as $12.68. Energous shares last traded at $12.74, with a volume of 226,648 shares.

Analyst Ratings Changes

WATT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Energous from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings upgraded Energous from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Energous Price Performance

The stock’s 50 day moving average is $13.36 and its 200-day moving average is $19.11. The company has a market capitalization of $72.62 million, a P/E ratio of -5.95 and a beta of 1.56.

Institutional Investors Weigh In On Energous

Several hedge funds have recently bought and sold shares of WATT. NewEdge Advisors LLC increased its holdings in Energous by 20.2% in the 2nd quarter. NewEdge Advisors LLC now owns 38,397 shares of the industrial products company’s stock worth $923,000 after buying an additional 6,451 shares in the last quarter. Headlands Technologies LLC bought a new position in Energous during the second quarter valued at approximately $473,000. Bank of New York Mellon Corp purchased a new stake in Energous in the second quarter worth approximately $301,000. Quantinno Capital Management LP purchased a new stake in Energous in the first quarter worth approximately $220,000. Finally, GatePass Capital LLC bought a new stake in Energous in the 1st quarter worth approximately $1,820,000. Institutional investors own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation (NASDAQ: WATT) develops wireless power-at-a-distance technology designed to deliver energy to compatible electronic devices without direct physical contact. Its technology is intended to support applications where conventional wired charging or charging pads may be inconvenient, including connected consumer electronics, Internet of Things devices, wearables, healthcare equipment and industrial products.

The company’s WattUp platform uses radio frequency-based wireless power transmission and consists of power transmitters, receivers and related software or system technologies.