Energous Corp. (WATT) to Post Q1 2017 Earnings of ($0.39) Per Share, Roth Capital Forecasts
Energous Corp. (NASDAQ:WATT) – Roth Capital issued their Q1 2017 earnings estimates for shares of Energous Corp. in a research report issued to clients and investors on Tuesday. Roth Capital analyst W. Gibson forecasts that the firm will earn ($0.39) per share for the quarter. Roth Capital also issued estimates for Energous Corp.’s Q2 2017 earnings at ($0.34) EPS, Q3 2017 earnings at ($0.19) EPS, Q4 2017 earnings at ($0.02) EPS and FY2018 earnings at $0.70 EPS.
A number of other analysts also recently weighed in on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $15.00 price target (up from $13.00) on shares of Energous Corp. in a report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Energous Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.75.
Shares of Energous Corp. (NASDAQ:WATT) opened at 15.18 on Wednesday. The firm’s market capitalization is $258.71 million. Energous Corp. has a 52 week low of $3.65 and a 52 week high of $20.13. The stock has a 50 day moving average of $16.27 and a 200-day moving average of $13.69.
Energous Corp. (NASDAQ:WATT) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.14. The firm had revenue of $1 million for the quarter, compared to the consensus estimate of $2.08 million.
Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Energous Corp. by 0.6% in the third quarter. California State Teachers Retirement System now owns 31,281 shares of the company’s stock worth $613,000 after buying an additional 200 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Energous Corp. by 33.2% in the third quarter. BlackRock Advisors LLC now owns 5,722 shares of the company’s stock worth $112,000 after buying an additional 1,425 shares during the period. Rhumbline Advisers boosted its stake in shares of Energous Corp. by 11.2% in the third quarter. Rhumbline Advisers now owns 14,626 shares of the company’s stock worth $287,000 after buying an additional 1,472 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Energous Corp. by 28.7% in the third quarter. Wells Fargo & Company MN now owns 9,654 shares of the company’s stock worth $190,000 after buying an additional 2,154 shares during the period. Finally, Creative Planning boosted its stake in shares of Energous Corp. by 258.1% in the third quarter. Creative Planning now owns 5,490 shares of the company’s stock worth $108,000 after buying an additional 3,957 shares during the period. 25.05% of the stock is 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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