Zacks: Brokerages Anticipate Energous Corp (WATT) to Announce -$0.54 EPS

Brokerages expect that Energous Corp (NASDAQ:WATT) will announce earnings per share (EPS) of ($0.54) for the current quarter, according to Zacks. Two analysts have made estimates for Energous’ earnings. Energous reported earnings of ($0.63) per share in the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Energous will report full year earnings of ($2.06) per share for the current year, with EPS estimates ranging from ($2.13) to ($1.99). For the next fiscal year, analysts expect that the company will post earnings of $2.20 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Energous.

Energous (NASDAQ:WATT) last released its quarterly earnings data on Tuesday, May 1st. The industrial products company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.03). Energous had a negative net margin of 8,335.76% and a negative return on equity of 233.60%. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.10 million.

WATT has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Energous from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Friday, April 13th. BidaskClub upgraded shares of Energous from a “hold” rating to a “buy” rating in a research report on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Energous from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Energous has an average rating of “Buy” and an average price target of $32.67.

In related news, insider Brian J. Sereda sold 1,645 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $28,030.80. Following the transaction, the insider now owns 101,847 shares in the company, valued at $1,735,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cesar Johnston sold 3,337 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $16.80, for a total transaction of $56,061.60. Following the transaction, the executive vice president now owns 155,700 shares in the company, valued at approximately $2,615,760. The disclosure for this sale can be found here. Insiders have sold 14,005 shares of company stock worth $230,348 in the last quarter. 6.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Energous by 0.7% during the fourth quarter. BlackRock Inc. now owns 1,338,595 shares of the industrial products company’s stock worth $26,037,000 after acquiring an additional 8,844 shares in the last quarter. Geode Capital Management LLC boosted its stake in Energous by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 167,439 shares of the industrial products company’s stock worth $3,256,000 after acquiring an additional 15,472 shares in the last quarter. Harvest Capital Strategies LLC bought a new stake in Energous during the fourth quarter worth about $3,112,000. Millennium Management LLC boosted its stake in Energous by 534.3% during the fourth quarter. Millennium Management LLC now owns 110,684 shares of the industrial products company’s stock worth $2,153,000 after acquiring an additional 93,233 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Energous by 11.6% during the fourth quarter. Deutsche Bank AG now owns 57,372 shares of the industrial products company’s stock worth $1,114,000 after acquiring an additional 5,966 shares in the last quarter. 28.13% of the stock is currently owned by institutional investors and hedge funds.

Energous opened at $15.28 on Friday, MarketBeat Ratings reports. Energous has a 12-month low of $6.91 and a 12-month high of $33.50. The stock has a market capitalization of $404.48 million, a price-to-earnings ratio of -6.61 and a beta of 1.60.

Energous Company Profile

Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.

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