Energous Corp (WATT) Given Consensus Recommendation of “Hold” by Brokerages

Energous Corp (NASDAQ:WATT) has received an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.67.

A number of equities analysts have weighed in on the stock. ValuEngine cut shares of Energous from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. National Securities reissued a “buy” rating and issued a $35.00 price objective on shares of Energous in a research report on Wednesday, October 31st. LADENBURG THALM/SH SH cut shares of Energous from a “buy” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Wednesday, October 31st. BidaskClub cut shares of Energous from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 16th. Finally, Roth Capital set a $25.00 price objective on shares of Energous and gave the company a “buy” rating in a research report on Wednesday, October 31st.

NASDAQ:WATT opened at $7.61 on Friday. The stock has a market capitalization of $198.81 million, a price-to-earnings ratio of -3.29 and a beta of 1.65. Energous has a 1-year low of $7.36 and a 1-year high of $33.50.

Energous (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). The company had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.20 million. Energous had a negative net margin of 10,168.85% and a negative return on equity of 170.01%. As a group, equities research analysts predict that Energous will post -2 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System boosted its position in Energous by 21.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,145 shares of the industrial products company’s stock valued at $328,000 after buying an additional 3,980 shares during the last quarter. Rhumbline Advisers boosted its position in Energous by 29.6% in the 2nd quarter. Rhumbline Advisers now owns 22,285 shares of the industrial products company’s stock valued at $330,000 after buying an additional 5,087 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Energous by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,271 shares of the industrial products company’s stock valued at $1,027,000 after purchasing an additional 8,450 shares in the last quarter. Calton & Associates Inc. acquired a new stake in shares of Energous in the 3rd quarter valued at about $101,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Energous by 33.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,700 shares of the industrial products company’s stock valued at $723,000 after purchasing an additional 12,200 shares in the last quarter. 24.35% of the stock is owned by institutional investors.

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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