Energous (NASDAQ:WATT) has been assigned a $45.80 target price by investment analysts at Roth Capital in a report released on Thursday, December 28th, MarketBeat.com reports. The firm currently has a “buy” rating on the industrial products company’s stock. Roth Capital’s target price suggests a potential upside of 98.96% from the company’s current price.
Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Energous from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.93.
Shares of Energous (NASDAQ:WATT) opened at $23.02 on Thursday. Energous has a 12-month low of $6.91 and a 12-month high of $33.50. The stock has a market cap of $511.36, a P/E ratio of -8.99 and a beta of 1.93.
Energous (NASDAQ:WATT) last released its earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. sell-side analysts expect that Energous will post -2.18 earnings per share for the current year.
In other Energous news, VP Neeraj Sahejpal sold 2,986 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.19, for a total value of $99,105.34. Following the sale, the vice president now directly owns 83,867 shares in the company, valued at approximately $2,783,545.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen R. Rizzone sold 75,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the completion of the sale, the chief executive officer now owns 253,609 shares in the company, valued at $6,603,978.36. The disclosure for this sale can be found here. Insiders sold a total of 282,562 shares of company stock worth $7,128,895 over the last quarter. 6.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors grew its position in Energous by 26.0% in the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,216 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Energous in the 3rd quarter worth $187,000. Frontier Investment Mgmt Co. acquired a new stake in Energous in the 2nd quarter worth $236,000. The Manufacturers Life Insurance Company grew its position in Energous by 32.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 3,855 shares during the last quarter. Finally, Westside Investment Management Inc. grew its position in Energous by 9.1% in the 2nd quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors 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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