Insider Selling: Energous Co. (NASDAQ:WATT) CFO Sells $22,703.75 in Stock
Energous Co. (NASDAQ:WATT) CFO Brian J. Sereda sold 11,075 shares of the company’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $2.05, for a total transaction of $22,703.75. Following the completion of the sale, the chief financial officer now directly owns 281,990 shares of the company’s stock, valued at $578,079.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Energous stock opened at $1.95 on Friday. The firm has a market capitalization of $86.87 million, a price-to-earnings ratio of -1.93 and a beta of 3.99. The company has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.73. Energous Co. has a 52 week low of $0.61 and a 52 week high of $4.58.
Energous (NASDAQ:WATT) last released its earnings results on Monday, November 9th. The industrial products company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Energous had a negative return on equity of 171.68% and a negative net margin of 13,071.48%. Equities analysts expect that Energous Co. will post -0.84 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of Energous from a “buy” rating to a “sell” rating in a report on Thursday, August 20th.
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a strategic partnership with Xentris Wireless to develop ruggedized products for military applications using the company's radio frequency based charging technology.
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