Energous (NASDAQ:WATT) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Energous from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital set a $46.00 price target on Energous and gave the company a “buy” rating in a report on Monday, February 19th. National Securities reissued a “buy” rating on shares of Energous in a report on Friday, February 16th. Finally, Ladenburg Thalmann Financial Services boosted their price target on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Energous currently has an average rating of “Hold” and a consensus price target of $33.33.
Energous (NASDAQ:WATT) opened at $16.43 on Friday. Energous has a twelve month low of $6.91 and a twelve month high of $33.50. The stock has a market capitalization of $439.72, a P/E ratio of -7.08 and a beta of 1.38.
Energous (NASDAQ:WATT) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.02). Energous had a negative net margin of 4,278.77% and a negative return on equity of 312.80%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.27 million. research analysts anticipate that Energous will post -1.81 EPS for the current fiscal year.
In other news, EVP Cesar Johnston sold 2,578 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $22.06, for a total transaction of $56,870.68. Following the completion of the transaction, the executive vice president now directly owns 146,277 shares of the company’s stock, valued at approximately $3,226,870.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Aaron Leabman sold 29,610 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $20.57, for a total value of $609,077.70. Following the transaction, the insider now directly owns 152,279 shares of the company’s stock, valued at $3,132,379.03. The disclosure for this sale can be found here. Insiders sold 468,040 shares of company stock valued at $11,173,159 over the last three months. 6.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. CenterStar Asset Management LLC acquired a new position in shares of Energous during the 4th quarter worth approximately $921,000. HRT Financial LLC acquired a new position in shares of Energous during the 4th quarter worth approximately $196,000. Wells Fargo & Company MN raised its stake in shares of 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 period. Two Sigma Securities LLC acquired a new position in shares of Energous during the 4th quarter worth approximately $204,000. Finally, State Street Corp raised its stake in shares of Energous by 11.4% during the 2nd quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock worth $4,203,000 after buying an additional 26,538 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.
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Energous Company Profile
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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