Energous Corp. (WATT) Lifted to Buy at Zacks Investment Research
Energous Corp. (NASDAQ:WATT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $18.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.04% from the company’s previous close.
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. “
Separately, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $15.00 target price (up from $13.00) on shares of Energous Corp. in a research note on Tuesday, August 16th. Five analysts have rated the stock with a buy rating, Energous Corp. has an average rating of “Buy” and an average price target of $14.75.
Energous Corp. (NASDAQ:WATT) traded down 3.08% on Wednesday, hitting $15.71. The stock had a trading volume of 356,031 shares. Energous Corp. has a 1-year low of $3.65 and a 1-year high of $20.13. The company has a 50-day moving average price of $17.65 and a 200-day moving average price of $13.03. The stock’s market capitalization is $267.75 million.
Energous Corp. (NASDAQ:WATT) last posted its earnings results on Tuesday, August 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.62). Equities analysts predict that Energous Corp. will post ($1.95) earnings per share for the current year.
A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Energous Corp. by 11.0% in the first quarter. Geode Capital Management LLC now owns 83,818 shares of the company’s stock valued at $846,000 after buying an additional 8,306 shares during the last quarter. American International Group Inc. purchased a new stake in shares of Energous Corp. during the second quarter valued at $110,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Energous Corp. during the second quarter valued at $113,000. Nationwide Fund Advisors purchased a new stake in shares of Energous Corp. during the second quarter valued at $122,000. Finally, Barclays PLC purchased a new stake in shares of Energous Corp. during the second quarter valued at $128,000. 24.25% of the stock is currently owned by institutional investors.
Energous Corp. 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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