Energous (NASDAQ:WATT) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT) in a report released on Tuesday morning. The firm issued a sell rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH lowered shares of Energous from a buy rating to a neutral rating and decreased their price objective for the company from $3.50 to $2.00 in a research note on Friday, April 5th.

Energous Stock Performance

NASDAQ:WATT opened at $1.48 on Tuesday. The firm has a market cap of $9.00 million, a price-to-earnings ratio of -0.36 and a beta of 2.55. Energous has a 52 week low of $1.42 and a 52 week high of $9.36. The firm has a 50-day moving average price of $1.92 and a two-hundred day moving average price of $1.87.

Institutional Investors Weigh In On Energous

Several large investors have recently modified their holdings of WATT. Armistice Capital LLC purchased a new stake in shares of Energous during the 1st quarter worth approximately $4,244,000. Squarepoint Ops LLC purchased a new stake in shares of Energous during the 1st quarter worth approximately $96,000. Millennium Management LLC purchased a new stake in shares of Energous during the 2nd quarter worth approximately $53,000. Advisor Group Holdings Inc. increased its stake in shares of Energous by 90.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 32,456 shares during the last quarter. Finally, State Street Corp boosted its holdings in Energous by 13.2% in the 2nd quarter. State Street Corp now owns 191,725 shares of the industrial products company’s stock worth $192,000 after buying an additional 22,300 shares during the period. Hedge funds and other institutional investors own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation develops wireless charging applications. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency-based charging for electronic devices. Its products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.