Zacks Investment Research upgraded shares of Energous (NASDAQ:WATT) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. The firm currently has $2.75 price objective on the industrial products company’s stock.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
WATT has been the subject of a number of other research reports. ValuEngine upgraded shares of Energous from a hold rating to a buy rating in a research report on Friday, April 3rd. Roth Capital restated a buy rating on shares of Energous in a research report on Monday, March 2nd.
Shares of Energous stock opened at $2.79 on Friday. The firm has a 50-day simple moving average of $2.19 and a two-hundred day simple moving average of $1.72. The company has a market cap of $114.87 million, a P/E ratio of -2.47 and a beta of 3.83. Energous has a fifty-two week low of $0.61 and a fifty-two week high of $4.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.27 and a current ratio of 6.27.
Energous (NASDAQ:WATT) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.08 million. Energous had a negative net margin of 18,262.44% and a negative return on equity of 167.69%. Equities research analysts forecast that Energous will post -0.71 EPS for the current year.
In related news, COO Cesar Johnston sold 24,322 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $1.84, for a total transaction of $44,752.48. Following the completion of the transaction, the chief operating officer now owns 420,494 shares in the company, valued at approximately $773,708.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 51,259 shares of company stock valued at $94,089. Insiders own 5.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Westside Investment Management Inc. acquired a new stake in Energous in the 1st quarter valued at about $149,531,000. Goldman Sachs Group Inc. raised its holdings in Energous by 34.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 29,466 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 7,541 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in Energous in the 4th quarter valued at about $85,000. Alliancebernstein L.P. raised its holdings in Energous by 171.7% in the 1st quarter. Alliancebernstein L.P. now owns 51,900 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 32,800 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Energous in the 4th quarter valued at about $99,000. Institutional investors own 17.41% of the company’s stock.
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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