Energous Corporation (NASDAQ:WATT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

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. “

Several other analysts also recently commented on WATT. ValuEngine downgraded shares of Energous Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $18.00 price objective on shares of Energous Corporation in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.75.

Energous Corporation (WATT) opened at 10.28 on Friday. The company’s market capitalization is $225.12 million. The company’s 50 day moving average is $14.67 and its 200-day moving average is $15.00. Energous Corporation has a 52-week low of $9.70 and a 52-week high of $20.55.

Energous Corporation (NASDAQ:WATT) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.63). Energous Corporation had a negative net margin of 2,495.17% and a negative return on equity of 237.18%. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.43 million. Equities analysts anticipate that Energous Corporation will post ($2.37) EPS for the current fiscal year.

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In other news, insider Brian J. Sereda sold 11,395 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $16.11, for a total transaction of $183,573.45. Following the sale, the insider now owns 133,577 shares of the company’s stock, valued at approximately $2,151,925.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Neeraj Sahejpal sold 1,615 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total transaction of $25,597.75. Following the sale, the vice president now directly owns 104,820 shares in the company, valued at approximately $1,661,397. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,593 shares of company stock worth $395,217. Insiders own 6.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in WATT. Creative Planning increased its stake in shares of Energous Corporation by 7.2% in the first quarter. Creative Planning now owns 8,990 shares of the industrial products company’s stock worth $140,000 after buying an additional 600 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock worth $148,000 after buying an additional 7,970 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Energous Corporation by 75.6% in the first quarter. Wells Fargo & Company MN now owns 30,217 shares of the industrial products company’s stock worth $472,000 after buying an additional 13,013 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Energous Corporation by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 25,778 shares of the industrial products company’s stock worth $434,000 after buying an additional 1,665 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Energous Corporation by 4.2% in the fourth quarter. State Street Corp now owns 229,297 shares of the industrial products company’s stock worth $3,862,000 after buying an additional 9,216 shares during the last quarter. 39.97% of the stock is currently owned by hedge funds and other institutional investors.

About Energous Corporation

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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