Shares of Energous Corporation (NASDAQ:WATT) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.50.
Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Energous from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. ValuEngine raised Energous from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 14th.
Shares of Energous (NASDAQ:WATT) opened at $9.44 on Friday. Energous has a 52-week low of $6.91 and a 52-week high of $20.55.
Energous (NASDAQ:WATT) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $1.20 million. Energous had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. sell-side analysts forecast that Energous will post -2.18 EPS for the current year.
In related news, VP Neeraj Sahejpal sold 2,846 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $9.35, for a total transaction of $26,610.10. Following the sale, the vice president now directly owns 89,123 shares of the company’s stock, valued at approximately $833,300.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Cesar Johnston sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $12.55, for a total value of $188,250.00. Following the transaction, the vice president now owns 88,991 shares of the company’s stock, valued at $1,116,837.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,017 shares of company stock worth $243,053. Corporate insiders own 6.30% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in Energous by 223.0% during the 3rd quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock worth $806,000 after buying an additional 43,937 shares during the last quarter. SG Americas Securities LLC bought a new position in Energous during the 3rd quarter worth $187,000. Bank of New York Mellon Corp grew its stake in Energous by 26.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 70,761 shares of the industrial products company’s stock worth $896,000 after buying an additional 14,858 shares during the last quarter. Leisure Capital Management grew its stake in Energous by 57.0% during the 3rd quarter. Leisure Capital Management now owns 34,540 shares of the industrial products company’s stock worth $437,000 after buying an additional 12,546 shares during the last quarter. Finally, Frontier Investment Mgmt Co. bought a new position in Energous during the 2nd quarter worth $236,000. Hedge funds and other institutional investors own 38.97% of the company’s stock.
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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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