Shares of Energous Corp (NASDAQ:WATT) were down 8% during trading on Monday . The company traded as low as $5.00 and last traded at $5.21. Approximately 1,131,369 shares changed hands during trading, a decline of 1% from the average daily volume of 1,140,793 shares. The stock had previously closed at $5.66.
A number of analysts recently commented on WATT shares. ValuEngine lowered Energous from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub upgraded Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research lowered Energous from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.00.
The company has a market cap of $160.64 million, a PE ratio of -2.62 and a beta of 1.97.
Energous (NASDAQ:WATT) last issued its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.48). Energous had a negative return on equity of 164.83% and a negative net margin of 9,871.85%. As a group, analysts forecast that Energous Corp will post -1.24 earnings per share for the current fiscal year.
In other Energous news, EVP Cesar Johnston sold 8,089 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $7.40, for a total value of $59,858.60. Following the sale, the executive vice president now directly owns 176,879 shares in the company, valued at $1,308,904.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Sereda sold 3,400 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $7.51, for a total value of $25,534.00. Following the completion of the sale, the insider now owns 117,199 shares in the company, valued at $880,164.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,006 shares of company stock worth $179,734. Corporate insiders own 6.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Energous by 7.6% in the third quarter. Vanguard Group Inc now owns 993,462 shares of the industrial products company’s stock valued at $10,054,000 after purchasing an additional 70,325 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Energous in the fourth quarter valued at $1,353,000. Morgan Stanley grew its position in shares of Energous by 40.1% in the third quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock valued at $2,004,000 after purchasing an additional 56,647 shares in the last quarter. Cheyne Capital Management UK LLP purchased a new position in shares of Energous in the third quarter valued at $101,000. Finally, M&T Bank Corp grew its position in shares of Energous by 95.9% in the fourth quarter. M&T Bank Corp now owns 20,010 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 9,797 shares in the last quarter. Institutional investors own 27.34% of the company’s stock.
About Energous (NASDAQ:WATT)
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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