Insider Selling: Energous Corporation (NASDAQ:WATT) CEO Sells 75,000 Shares of Stock

Energous Corporation (NASDAQ:WATT) CEO Stephen R. Rizzone sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $26.04, for a total value of $1,953,000.00. Following the completion of the transaction, the chief executive officer now owns 253,609 shares in the company, valued at $6,603,978.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Energous Corporation (NASDAQ WATT) opened at $20.00 on Friday. Energous Corporation has a 12-month low of $6.91 and a 12-month high of $33.50.

Energous (NASDAQ:WATT) last announced 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). The firm had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. Energous had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. equities analysts forecast that Energous Corporation will post -2.18 EPS for the current fiscal year.

A number of research analysts recently commented on WATT shares. ValuEngine upgraded Energous from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 14th. Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Roth Capital set a $45.80 price objective on Energous and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Ladenburg Thalmann Financial Services upped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.93.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hood River Capital Management LLC raised its position in Energous by 2.3% in the second quarter. Hood River Capital Management LLC now owns 1,334,815 shares of the industrial products company’s stock valued at $21,704,000 after purchasing an additional 30,400 shares during the period. Vanguard Group Inc. raised its position in Energous by 12.0% in the second quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock valued at $11,523,000 after purchasing an additional 75,862 shares during the period. State Street Corp raised its position in Energous by 11.4% in the second quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock valued at $4,203,000 after purchasing an additional 26,538 shares during the period. Northern Trust Corp raised its position in Energous by 27.8% in the second quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock valued at $3,498,000 after purchasing an additional 46,799 shares during the period. Finally, Robecosam AG purchased a new stake in Energous in the second quarter valued at approximately $1,645,000. 38.97% of the stock is currently owned by institutional investors.

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Energous Company Profile

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.

Insider Buying and Selling by Quarter for Energous (NASDAQ:WATT)

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