Energous Corporation (NASDAQ:WATT) shares traded up 6% during trading on Friday . The company traded as high as $11.60 and last traded at $11.60. 786,023 shares were traded during mid-day trading, an increase of 38% from the average session volume of 567,639 shares. The stock had previously closed at $10.94.
A number of research analysts recently commented on the company. Zacks Investment Research raised Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, August 11th. BidaskClub cut Energous Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine raised Energous Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Roth Capital set a $23.00 price target on Energous Corporation and gave the stock a “buy” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.75.
The stock has a 50 day moving average of $11.80 and a 200 day moving average of $14.30. The stock’s market cap is $254.03 million.
Energous Corporation (NASDAQ:WATT) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) EPS for the quarter, meeting the consensus estimate of ($0.63). Energous Corporation had a negative return on equity of 237.18% and a negative net margin of 2,495.17%. The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.43 million. Equities analysts predict that Energous Corporation will post ($2.37) earnings per share for the current fiscal year.
In other news, 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 value of $34,493.55. Following the transaction, the vice president now owns 101,115 shares in the company, valued at $941,380.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $97,894.65. Following the completion of the transaction, the insider now owns 181,889 shares in the company, valued at approximately $1,693,386.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,624 shares of company stock worth $682,892. 6.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in shares of Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 607 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 7,970 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Energous Corporation by 26.0% in the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 2,216 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 1,702 shares in the last quarter. Finally, Frontier Investment Mgmt Co. purchased a new position in shares of Energous Corporation in the second quarter valued at approximately $236,000. Institutional investors and hedge funds own 36.84% of the company’s stock.
About Energous Corporation
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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