Energous Corporation (NASDAQ:WATT) Sees Significant Decline in Short Interest

Energous Corporation (NASDAQ:WATT) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 180,673 shares, a drop of 32.8% from the January 15th total of 269,026 shares. Based on an average daily trading volume, of 257,249 shares, the days-to-cover ratio is presently 0.7 days. Currently, 8.3% of the company’s stock are short sold. Currently, 8.3% of the company’s stock are short sold. Based on an average daily trading volume, of 257,249 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Energous in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Energous has a consensus rating of “Sell”.

Energous Price Performance

Energous stock opened at $11.38 on Friday. The stock’s 50 day moving average price is $6.12 and its 200 day moving average price is $7.24. Energous has a 1-year low of $3.62 and a 1-year high of $18.36. The company has a market cap of $24.81 million, a PE ratio of -0.63 and a beta of 0.95.

Institutional Trading of Energous

Several large investors have recently bought and sold shares of WATT. Geode Capital Management LLC raised its position in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Energous by 82.2% during the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 9,250 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Energous during the 3rd quarter worth approximately $1,202,000. Institutional investors and hedge funds own 4.35% of the company’s stock.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.