Energous (NASDAQ:WATT) Given a $45.80 Price Target by Roth Capital Analysts

Energous (NASDAQ:WATT) has been given a $45.80 target price by research analysts at Roth Capital in a research note issued on Thursday, December 28th, Marketbeat Ratings reports. The firm presently has a “buy” rating on the industrial products company’s stock. Roth Capital’s price target points to a potential upside of 129.00% from the stock’s current price.

A number of other brokerages have also issued reports on WATT. ValuEngine raised shares of Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered shares of Energous from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.93.

Energous (WATT) opened at $20.00 on Thursday. Energous has a 52-week low of $6.91 and a 52-week high of $33.50. The firm has a market cap of $444.27, a P/E ratio of -7.81 and a beta of 1.93.

Energous (NASDAQ:WATT) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. The firm had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $1.20 million. sell-side analysts expect that Energous will post -2.18 EPS for the current year.

In other Energous news, Director John Gaulding sold 25,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $29.66, for a total transaction of $741,500.00. Following the completion of the transaction, the director now owns 73,312 shares of the company’s stock, valued at approximately $2,174,433.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen R. Rizzone sold 75,000 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the transaction, the chief executive officer now directly owns 253,609 shares of the company’s stock, valued at approximately $6,603,978.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,562 shares of company stock valued at $7,128,895. 6.30% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its position in Energous by 26.0% during the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 2,216 shares during the last quarter. Frontier Investment Mgmt Co. bought a new position in shares of Energous during the 2nd quarter worth about $236,000. SG Americas Securities LLC bought a new position in shares of Energous during the 3rd quarter worth about $187,000. The Manufacturers Life Insurance Company increased its holdings in shares of Energous by 32.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 3,855 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in shares of Energous by 9.1% during the 2nd quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 1,500 shares during the period. 38.97% of the stock is owned by hedge funds and other institutional investors.

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About Energous

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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