Short Interest in Energous Corp. (WATT) Grows By 29.5%
Energous Corp. (NASDAQ:WATT) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,553,007 shares, an increase of 29.5% from the August 31st total of 2,743,686 shares. Based on an average daily volume of 2,002,218 shares, the short-interest ratio is presently 1.8 days. Currently, 22.5% of the company’s stock are short sold.
Energous Corp. (NASDAQ:WATT) opened at 17.61 on Wednesday. The firm’s market cap is $300.13 million. Energous Corp. has a one year low of $3.65 and a one year high of $20.13. The stock’s 50 day moving average price is $17.16 and its 200-day moving average price is $12.75.
Energous Corp. (NASDAQ:WATT) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.62). Analysts forecast that Energous Corp. will post ($1.95) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of WATT. American International Group Inc. bought a new position in Energous Corp. during the second quarter valued at about $110,000. Thompson Davis & CO. Inc. bought a new position in Energous Corp. during the second quarter valued at about $113,000. Nationwide Fund Advisors bought a new position in Energous Corp. during the second quarter valued at about $122,000. Barclays PLC bought a new position in Energous Corp. during the second quarter valued at about $128,000. Finally, State Street Corp acquired a new position in Energous Corp. during the first quarter valued at $160,000. Institutional investors and hedge funds own 24.25% of the company’s stock.
Several research analysts have weighed in on the company. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $15.00 target price (up from $13.00) on shares of Energous Corp. in a research report on Tuesday, August 16th. Zacks Investment Research raised Energous Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.00.
About Energous Corp.
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.
Receive News & Stock Ratings for Energous Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energous Corp. and related stocks with our FREE daily email newsletter.