Energous (NASDAQ:WATT) CEO Mallorie Sara Burak Acquires 1,867 Shares of Stock

Energous Corporation (NASDAQ:WATT) CEO Mallorie Sara Burak bought 1,867 shares of the stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the acquisition, the chief executive officer owned 26,999 shares in the company, valued at $714,663.53. The trade was a 7.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Energous Stock Performance

WATT opened at $27.45 on Friday. The firm has a market cap of $150.98 million, a price-to-earnings ratio of -6.70 and a beta of 1.61. Energous Corporation has a twelve month low of $3.62 and a twelve month high of $36.98. The firm’s 50-day simple moving average is $22.52 and its 200-day simple moving average is $12.83.

Institutional Investors Weigh In On Energous

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Energous by 85.4% during the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 8,619 shares during the last quarter. Armistice Capital LLC bought a new stake in Energous during the 3rd quarter worth about $1,202,000. Quantinno Capital Management LP bought a new stake in Energous during the 1st quarter worth about $220,000. GatePass Capital LLC bought a new stake in Energous during the 1st quarter worth about $1,820,000. Finally, AIGH Capital Management LLC bought a new stake in Energous during the 1st quarter worth about $3,373,000. Institutional investors own 4.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research upgraded Energous to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings lowered shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Energous currently has an average rating of “Reduce”.

Energous Company Profile

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.