Zacks Investment Research upgraded shares of Energous (NASDAQ:WATT) from a sell rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
A number of other equities research analysts also recently weighed in on WATT. ValuEngine raised Energous from a strong sell 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 lifted 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $30.93.
Energous (WATT) traded down $0.14 during midday trading on Friday, reaching $18.24. The company’s stock had a trading volume of 424,491 shares, compared to its average volume of 7,241,210. The firm has a market capitalization of $413.40, a P/E ratio of -7.13 and a beta of 1.93. Energous has a 12 month low of $6.91 and a 12 month high of $33.50.
Energous (NASDAQ:WATT) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The company had revenue of $0.25 million for the quarter, compared to analyst estimates 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 predict that Energous will post -2.18 earnings per share for the current fiscal year.
In other news, Director John Gaulding sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $29.66, for a total value of $741,500.00. Following the transaction, the director now directly owns 73,312 shares of the company’s stock, valued at approximately $2,174,433.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Neeraj Sahejpal sold 2,846 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $9.35, for a total value of $26,610.10. Following the completion of the transaction, the vice president now directly owns 89,123 shares in the company, valued at $833,300.05. 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 three months. 6.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WATT. Robecosam AG acquired a new position in shares of Energous in the 2nd quarter worth approximately $1,645,000. Vanguard Group Inc. raised its position in Energous by 12.0% in 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 raised its position in Energous by 27.8% in 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 raised its position in Energous by 223.0% in 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 raised its position in Energous by 2.3% in 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. 38.97% of the stock is currently owned by institutional investors and hedge funds.
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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.
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