Zacks Investment Research upgraded shares of Energous (NASDAQ:WATT) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $19.00 price objective on the industrial products company’s stock.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
Several other equities research analysts also recently issued reports on WATT. ValuEngine upgraded shares of Energous from a sell rating to a hold rating in a research note on Wednesday, December 27th. Roth Capital set a $45.80 price objective on shares of Energous and gave the stock a buy rating in a research note on Thursday, December 28th. Ladenburg Thalmann raised their price objective on shares of Energous from $20.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. National Securities restated a buy rating on shares of Energous in a research note on Friday, February 16th. Finally, BidaskClub cut Energous from a hold rating to a sell rating in a research report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $32.33.
Energous (NASDAQ:WATT) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.27 million. Energous had a negative return on equity of 312.80% and a negative net margin of 4,278.77%. research analysts expect that Energous will post -1.81 EPS for the current year.
In related news, Director Michael Aaron Leabman sold 52,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $20.01, for a total value of $1,040,520.00. Following the completion of the transaction, the director now directly owns 100,279 shares of the company’s stock, valued at $2,006,582.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Neeraj Sahejpal sold 4,991 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $20.17, for a total value of $100,668.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,495 shares of company stock valued at $4,099,068. 6.30% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of WATT. Hood River Capital Management LLC lifted its position in Energous by 29.0% in the fourth quarter. Hood River Capital Management LLC now owns 1,649,853 shares of the industrial products company’s stock worth $32,090,000 after purchasing an additional 371,144 shares during the period. Harvest Capital Strategies LLC bought a new position in shares of Energous during the fourth quarter valued at $3,112,000. Millennium Management LLC lifted its holdings in shares of Energous by 534.3% during the fourth quarter. Millennium Management LLC now owns 110,684 shares of the industrial products company’s stock valued at $2,153,000 after acquiring an additional 93,233 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Energous by 223.0% during the third quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 43,937 shares during the period. Finally, CenterStar Asset Management LLC bought a new position in shares of Energous during the fourth quarter valued at $921,000. 32.89% of the stock is owned by hedge funds and other institutional investors.
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Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.
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