Energous (WATT) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Energous (NASDAQ:WATT) from a sell rating to a hold rating in a report released on Tuesday morning.

WATT has been the subject of several other research reports. BidaskClub upgraded shares of Energous from a sell rating to a hold rating in a research note on Thursday, June 21st. National Securities reiterated a buy rating and issued a $35.00 price objective on shares of Energous in a research note on Sunday, August 5th. Finally, Roth Capital dropped their price objective on shares of Energous from $48.50 to $24.50 and set a buy rating for the company in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $27.88.

Shares of Energous stock opened at $9.02 on Tuesday. Energous has a twelve month low of $6.91 and a twelve month high of $33.50. The stock has a market capitalization of $249.02 million, a price-to-earnings ratio of -4.12 and a beta of 1.47.

Energous (NASDAQ:WATT) last issued its quarterly earnings data on Wednesday, August 1st. The industrial products company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. Energous had a negative net margin of 9,750.39% and a negative return on equity of 182.29%. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.22 million. Equities analysts expect that Energous will post -2.06 earnings per share for the current fiscal year.

In other Energous news, insider Brian J. Sereda sold 4,010 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $12.59, for a total value of $50,485.90. Following the transaction, the insider now directly owns 115,652 shares of the company’s stock, valued at approximately $1,456,058.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Neeraj Sahejpal sold 3,069 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $12.59, for a total transaction of $38,638.71. Following the completion of the transaction, the vice president now directly owns 103,689 shares in the company, valued at $1,305,444.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,762 shares of company stock worth $223,624. Insiders own 6.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning increased its holdings in Energous by 28.2% in the 2nd quarter. Creative Planning now owns 16,363 shares of the industrial products company’s stock valued at $243,000 after buying an additional 3,596 shares during the period. Commonwealth Equity Services LLC increased its holdings in Energous by 34.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,139 shares of the industrial products company’s stock valued at $274,000 after buying an additional 4,354 shares during the period. Wells Fargo & Company MN increased its holdings in Energous by 23.3% in the 1st quarter. Wells Fargo & Company MN now owns 26,388 shares of the industrial products company’s stock valued at $424,000 after buying an additional 4,981 shares during the period. Natixis bought a new position in Energous in the 2nd quarter valued at about $370,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Energous by 33.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,700 shares of the industrial products company’s stock valued at $723,000 after buying an additional 12,200 shares during the period. 24.21% of the stock is currently owned by hedge funds and other institutional investors.

Energous Company Profile

Energous Corp. engages in the development of technology that enables wireless charging for electronic devices. It focuses on their product, WattUp, a wire-free charging technology that will transform the way consumers and industries charge and power electronic devices at home, in the office and car. The company was founded by Michael Leabman on October 30, 2012 and is headquartered in San Jose, CA.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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