$1.20 Million in Sales Expected for Energous Corporation (WATT) This Quarter
Brokerages forecast that Energous Corporation (NASDAQ:WATT) will report $1.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Energous Corporation’s earnings, with the highest sales estimate coming in at $2.00 million and the lowest estimate coming in at $400,000.00. Energous Corporation reported sales of $1.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The business is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Energous Corporation will report full-year sales of $1.20 million for the current year, with estimates ranging from $1.70 million to $7.74 million. For the next financial year, analysts anticipate that the firm will post sales of $43.95 million per share, with estimates ranging from $3.90 million to $84.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Energous Corporation.
Energous Corporation (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $0.43 million.
WATT has been the topic of several recent analyst reports. BidaskClub lowered shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered shares of Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Roth Capital set a $23.00 target price on shares of Energous Corporation and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.75.
In other news, insider Michael Aaron Leabman sold 10,515 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $9.31, for a total transaction of $97,894.65. Following the transaction, the insider now directly owns 181,889 shares in the company, valued at $1,693,386.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Neeraj Sahejpal sold 3,705 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $9.31, for a total transaction of $34,493.55. Following the transaction, the vice president now owns 101,115 shares in the company, valued at $941,380.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,624 shares of company stock worth $871,142. Insiders own 6.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. grew its position in shares of Energous Corporation by 7.1% during the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 607 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Energous Corporation by 516.9% during the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 7,970 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of Energous Corporation by 26.0% during the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 2,216 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Energous Corporation by 16.9% during the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock worth $184,000 after acquiring an additional 1,702 shares during the last quarter. Finally, Frontier Investment Mgmt Co. purchased a new position in shares of Energous Corporation during the second quarter worth approximately $236,000. Institutional investors and hedge funds own 36.84% of the company’s stock.
Shares of Energous Corporation (NASDAQ:WATT) opened at 13.45 on Thursday. The stock’s 50 day moving average is $11.30 and its 200-day moving average is $14.03. Energous Corporation has a 12-month low of $8.91 and a 12-month high of $20.55. The company’s market capitalization is $294.54 million.
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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