GatePass Capital LLC Acquires New Holdings in Energous Corporation $WATT

GatePass Capital LLC bought a new position in shares of Energous Corporation (NASDAQ:WATT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 116,000 shares of the industrial products company’s stock, valued at approximately $1,820,000. Energous makes up 0.8% of GatePass Capital LLC’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Energous by 85.4% in the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Energous by 82.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock valued at $82,000 after buying an additional 9,250 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of Energous during the first quarter worth $282,000. Armistice Capital LLC bought a new stake in shares of Energous during the third quarter worth $1,202,000. Finally, AIGH Capital Management LLC bought a new stake in shares of Energous during the first quarter worth $3,373,000. 4.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energous

In other news, CEO Mallorie Sara Burak bought 1,867 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of $26.47 per share, with a total value of $49,419.49. Following the completion of the purchase, the chief executive officer owned 26,999 shares of the company’s stock, valued at $714,663.53. This represents a 7.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings cut shares of 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 report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Energous Stock Down 0.4%

WATT stock opened at $15.10 on Friday. The company has a market cap of $83.05 million, a price-to-earnings ratio of -3.68 and a beta of 1.54. Energous Corporation has a twelve month low of $3.62 and a twelve month high of $36.98. The business has a 50 day moving average price of $24.06 and a two-hundred day moving average price of $17.18.

Energous Company Profile

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.