Energous (NASDAQ:WATT) Shares Up 0.7%

Energous Corp (NASDAQ:WATT)’s share price shot up 0.7% during mid-day trading on Monday . The stock traded as high as $4.68 and last traded at $4.62, 3,329 shares were traded during trading. A decline of 99% from the average session volume of 274,097 shares. The stock had previously closed at $4.59.

Several research analysts have weighed in on WATT shares. Roth Capital increased their target price on shares of Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Finally, LADENBURG THALM/SH SH raised shares of Energous from a “neutral” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.07.

The company has a market capitalization of $137.96 million, a P/E ratio of -2.27 and a beta of 1.79. The stock has a 50 day moving average price of $4.26.

Energous (NASDAQ:WATT) last announced its earnings results on Tuesday, April 30th. The industrial products company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.08. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.10 million. Energous had a negative net margin of 8,692.28% and a negative return on equity of 169.14%. As a group, analysts expect that Energous Corp will post -1.49 EPS for the current year.

In other news, CFO Brian J. Sereda sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $4.51, for a total value of $90,200.00. Following the completion of the transaction, the chief financial officer now owns 169,499 shares of the company’s stock, valued at $764,440.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian J. Sereda sold 15,300 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $4.59, for a total transaction of $70,227.00. Following the completion of the transaction, the insider now directly owns 139,699 shares of the company’s stock, valued at approximately $641,218.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,879 shares of company stock valued at $194,681. 7.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Energous by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 224,776 shares of the industrial products company’s stock valued at $1,301,000 after purchasing an additional 11,701 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Energous by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 71,653 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 3,758 shares during the period. Deutsche Bank AG boosted its stake in shares of Energous by 63.1% in the fourth quarter. Deutsche Bank AG now owns 76,590 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 29,645 shares during the period. Bank of America Corp DE boosted its stake in shares of Energous by 155.8% in the fourth quarter. Bank of America Corp DE now owns 22,038 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 13,421 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Energous by 13.6% in the first quarter. Oppenheimer & Co. Inc. now owns 27,434 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 3,280 shares during the period. 25.07% of the stock is owned by institutional investors and hedge funds.

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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