Energous (NASDAQ:WATT) Stock Crosses Above 50-Day Moving Average – Here’s Why

Energous Corporation (NASDAQ:WATT)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $23.79 and traded as high as $28.98. Energous shares last traded at $28.03, with a volume of 338,653 shares traded.

Wall Street Analysts Forecast Growth

WATT has been the subject of several research analyst reports. Zacks Research raised shares of Energous to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Energous Trading Down 1.4%

The company’s 50 day moving average is $23.79 and its 200-day moving average is $13.60. The company has a market capitalization of $154.19 million, a P/E ratio of -6.84 and a beta of 1.53.

Insider Activity

In other Energous news, CEO Mallorie Sara Burak purchased 1,867 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the purchase, the chief executive officer directly owned 26,999 shares in the company, valued at $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC bought a new position in shares of Energous in the 1st quarter worth about $3,373,000. Armistice Capital LLC bought a new position in shares of Energous in the 3rd quarter worth about $1,202,000. GatePass Capital LLC bought a new position in shares of Energous in the 1st quarter worth about $1,820,000. NewEdge Advisors LLC increased its stake in shares of Energous by 8,628.4% in the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after acquiring an additional 31,580 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Energous by 82.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 9,250 shares in the last quarter. 4.35% of the stock is currently owned by institutional investors.

About Energous

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.