Energous Corp (NASDAQ:WATT)’s share price rose 6.7% during mid-day trading on Thursday . The stock traded as high as $9.42 and last traded at $9.13. Approximately 776,574 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 1,264,583 shares. The stock had previously closed at $8.56.
WATT has been the subject of several recent research reports. ValuEngine cut shares of Energous from a “hold” rating to a “sell” rating in a research report on Monday, September 17th. National Securities restated a “buy” rating and issued a $35.00 price target on shares of Energous in a research report on Sunday, August 5th. BidaskClub cut shares of Energous from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 16th. Finally, Roth Capital decreased their price target on shares of Energous from $48.50 to $24.50 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Energous presently has a consensus rating of “Hold” and an average target price of $27.88.
The stock has a market capitalization of $259.27 million, a price-to-earnings ratio of -3.99 and a beta of 1.47.
Energous (NASDAQ:WATT) last posted its quarterly earnings data on Wednesday, August 1st. The industrial products company reported ($0.48) earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.22 million. As a group, sell-side analysts predict that Energous Corp will post -2.06 earnings per share for the current fiscal year.
In other news, EVP Cesar Johnston sold 10,683 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $12.59, for a total transaction of $134,498.97. Following the completion of the sale, the executive vice president now directly owns 157,900 shares in the company, valued at $1,987,961. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Neeraj Sahejpal sold 3,069 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $12.59, for a total transaction of $38,638.71. Following the completion of the sale, the vice president now owns 103,689 shares of the company’s stock, valued at $1,305,444.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,082 shares of company stock valued at $523,856. 6.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new stake in Energous in the third quarter worth $132,000. PNC Financial Services Group Inc. acquired a new stake in Energous in the first quarter worth $138,000. MetLife Investment Advisors LLC bought a new position in shares of Energous in the first quarter valued at $144,000. Atlantic Trust Group LLC lifted its stake in shares of Energous by 163.0% in the first quarter. Atlantic Trust Group LLC now owns 13,150 shares of the industrial products company’s stock valued at $211,000 after buying an additional 8,150 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Energous by 28.2% in the second 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 in the last quarter. Institutional investors and hedge funds own 23.88% of the company’s stock.
Energous Company Profile (NASDAQ:WATT)
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.
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