Equities research analysts forecast that Energous Corp (NASDAQ:WATT) will announce ($0.53) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Energous’ earnings. Energous reported earnings per share of ($0.58) during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The firm is scheduled to announce its next earnings results on Wednesday, November 14th.
On average, analysts expect that Energous will report full year earnings of ($2.06) per share for the current fiscal year, with EPS estimates ranging from ($2.08) to ($2.03). For the next year, analysts anticipate that the company will post earnings of ($0.89) per share, with EPS estimates ranging from ($1.93) to $0.15. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Energous.
Energous (NASDAQ:WATT) last released its earnings results on Wednesday, August 1st. The industrial products company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. Energous had a negative return on equity of 182.29% and a negative net margin of 9,750.39%. The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.22 million.
WATT has been the topic of several recent analyst reports. Zacks Investment Research raised Energous from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Saturday, May 5th. ValuEngine raised Energous from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. BidaskClub raised Energous from a “hold” rating to a “buy” rating in a research report on Tuesday, April 24th. National Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of Energous in a research report on Sunday, August 5th. Finally, Roth Capital dropped their price objective on Energous from $48.50 to $24.50 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. One 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 company. The company has a consensus rating of “Hold” and an average target price of $27.88.
In other Energous news, insider Brian J. Sereda sold 10,540 shares of the stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $15.54, for a total value of $163,791.60. Following the transaction, the insider now owns 130,202 shares of the company’s stock, valued at $2,023,339.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Cesar Johnston sold 3,337 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $16.80, for a total value of $56,061.60. Following the completion of the transaction, the executive vice president now directly owns 155,700 shares in the company, valued at approximately $2,615,760. The disclosure for this sale can be found here. Insiders have sold 33,325 shares of company stock worth $530,581 over the last ninety days. 6.80% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of WATT. PNC Financial Services Group Inc. bought a new position in Energous in the first quarter valued at about $138,000. MetLife Investment Advisors LLC bought a new position in Energous in the first quarter valued at about $144,000. Atlantic Trust Group LLC lifted its holdings in 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 acquiring an additional 8,150 shares during the period. Wedbush Securities Inc. bought a new position in Energous in the first quarter valued at about $218,000. Finally, Creative Planning lifted its holdings in 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 acquiring an additional 3,596 shares during the period. 24.88% of the stock is currently owned by institutional investors.
Shares of NASDAQ WATT traded up $0.03 during trading on Wednesday, reaching $12.67. The company had a trading volume of 8,879 shares, compared to its average volume of 1,455,348. Energous has a 12-month low of $6.91 and a 12-month high of $33.50. The stock has a market cap of $348.68 million, a P/E ratio of -5.42 and a beta of 1.51.
Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.
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