Energous Corporation (NASDAQ:WATT) CEO Stephen R. Rizzone sold 75,000 shares of the business’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $26.04, for a total value of $1,953,000.00. Following the transaction, the chief executive officer now owns 253,609 shares of the company’s stock, valued at approximately $6,603,978.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Energous Corporation (NASDAQ:WATT) traded up $1.72 during mid-day trading on Thursday, hitting $24.13. The company’s stock had a trading volume of 4,588,300 shares, compared to its average volume of 8,444,829. Energous Corporation has a twelve month low of $6.91 and a twelve month high of $33.50. The stock has a market cap of $510.40, a PE ratio of -9.43 and a beta of 1.93.
Energous (NASDAQ:WATT) last issued its earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. The firm had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. equities analysts anticipate that Energous Corporation will post -2.18 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Ladenburg Thalmann Financial Services boosted their price objective on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, Roth Capital set a $45.80 target price on Energous and gave the stock a “buy” rating in a report on Thursday, December 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.93.
Several hedge funds have recently modified their holdings of WATT. Robecosam AG purchased a new stake in shares of Energous in the 2nd quarter worth $1,645,000. Vanguard Group Inc. lifted its stake in shares of Energous by 12.0% during the 2nd quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock worth $11,523,000 after purchasing an additional 75,862 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Energous by 27.8% during the 2nd quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock worth $3,498,000 after purchasing an additional 46,799 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Energous by 223.0% during the 3rd quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock worth $806,000 after purchasing an additional 43,937 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Energous by 2.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,334,815 shares of the industrial products company’s stock worth $21,704,000 after purchasing an additional 30,400 shares during the last quarter. Institutional investors and hedge funds own 38.97% of the company’s stock.
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Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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