Energous Corporation (WATT) Given Average Rating of “Hold” by Analysts
Shares of Energous Corporation (NASDAQ:WATT) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.50.
WATT has been the topic of several analyst reports. Zacks Investment Research raised shares of Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday, August 11th. Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. ValuEngine raised shares of Energous Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub cut shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st.
Energous Corporation (NASDAQ WATT) opened at 10.91 on Wednesday. The stock has a 50 day moving average price of $12.30 and a 200-day moving average price of $14.41. Energous Corporation has a 1-year low of $8.91 and a 1-year high of $20.55. The firm’s market cap is $238.92 million.
Energous Corporation (NASDAQ:WATT) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share for the quarter, hitting the 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 analysts’ expectations of $0.43 million. Equities research analysts forecast that Energous Corporation will post ($2.37) EPS for the current year.
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In other news, VP Cesar Johnston sold 9,443 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $16.11, for a total transaction of $152,126.73. Following the transaction, the vice president now owns 123,133 shares in the company, valued at $1,983,672.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sereda sold 11,395 shares of the company’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 transaction, the insider now owns 133,577 shares in the company, valued at approximately $2,151,925.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,757 shares of company stock worth $559,259. 6.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Robecosam AG acquired a new position in shares of Energous Corporation during the second quarter valued at about $1,645,000. California State Teachers Retirement System raised its holdings in shares of Energous Corporation by 12.1% during the second quarter. California State Teachers Retirement System now owns 33,381 shares of the industrial products company’s stock valued at $543,000 after purchasing an additional 3,600 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Energous Corporation by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 3,855 shares during the period. Westside Investment Management Inc. raised its holdings in shares of Energous Corporation by 9.1% during the second quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 1,500 shares during the period. Finally, State Street Corp raised its holdings in shares of Energous Corporation by 11.4% during the second quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock valued at $4,203,000 after purchasing an additional 26,538 shares during the period. Hedge funds and other institutional investors own 36.84% of the company’s stock.
Energous Corporation 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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