Equities Analysts Set Expectations for Energous Corp.’s FY2016 Earnings (WATT)
Energous Corp. (NASDAQ:WATT) – Analysts at Roth Capital lowered their FY2016 earnings per share (EPS) estimates for Energous Corp. in a research report issued to clients and investors on Tuesday. Roth Capital analyst W. Gibson now forecasts that the brokerage will post earnings per share of ($2.45) for the year, down from their previous forecast of ($1.98). Roth Capital also issued estimates for Energous Corp.’s Q4 2016 earnings at ($0.60) EPS, FY2017 earnings at ($0.95) EPS, FY2019 earnings at $6.20 EPS and FY2020 earnings at $7.10 EPS.
Several other research firms have also recently commented on WATT. Zacks Investment Research cut shares of Energous Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $15.00 price target on shares of Energous Corp. in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.75.
Shares of Energous Corp. (NASDAQ:WATT) opened at 14.13 on Friday. The firm’s 50-day moving average is $16.05 and its 200 day moving average is $13.72. The firm’s market capitalization is $240.82 million. Energous Corp. has a 52 week low of $3.65 and a 52 week high of $20.13.
Energous Corp. (NASDAQ:WATT) last announced its earnings results on Monday, November 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.14. The business had revenue of $1 million for the quarter, compared to the consensus estimate of $2.08 million.
A number of institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position 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 last quarter. BlackRock Advisors LLC boosted its position 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 last quarter. American International Group Inc. acquired a new position in shares of Energous Corp. during the second quarter worth about $110,000. Thompson Davis & CO. Inc. acquired a new position in shares of Energous Corp. during the second quarter worth about $113,000. Finally, Nationwide Fund Advisors acquired a new position in shares of Energous Corp. during the second quarter worth about $122,000. 25.05% of the stock is currently owned by hedge funds and other 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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