Wall Street brokerages expect Energous Corp (NASDAQ:WATT) to announce earnings per share (EPS) of ($0.53) for the current quarter, Zacks reports. Two analysts have issued estimates for Energous’ earnings. Energous reported earnings of ($0.58) per share during the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The firm is scheduled to report its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Energous will report full year earnings of ($2.06) per share for the current year, with EPS estimates ranging from ($2.08) to ($2.03). For the next financial year, analysts forecast that the company will report earnings of ($0.89) per share, with EPS estimates ranging from ($1.93) to $0.15. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Energous.
Energous (NASDAQ:WATT) last announced its earnings results on Wednesday, August 1st. The industrial products company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.22 million. Energous had a negative return on equity of 182.29% and a negative net margin of 9,750.39%.
WATT has been the topic of several recent analyst reports. National Securities reissued a “buy” rating and issued a $35.00 target price on shares of Energous in a report on Sunday, August 5th. Roth Capital reduced their target price on Energous from $48.50 to $24.50 and set a “buy” rating on the stock in a report on Thursday, August 2nd. ValuEngine raised Energous from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research downgraded Energous from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Finally, BidaskClub raised Energous from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.88.
In other Energous news, Director John Gaulding sold 4,096 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $16.10, for a total transaction of $65,945.60. Following the transaction, the director now owns 117,224 shares of the company’s stock, valued at approximately $1,887,306.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Cesar Johnston sold 10,683 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $12.59, for a total value of $134,498.97. Following the transaction, the executive vice president now directly owns 157,900 shares in the company, valued at approximately $1,987,961. The disclosure for this sale can be found here. Insiders sold a total of 46,105 shares of company stock worth $670,112 over the last three months. 6.80% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in Energous by 28.2% during the 2nd quarter. Creative Planning now owns 16,363 shares of the industrial products company’s stock worth $243,000 after buying an additional 3,596 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Energous by 21.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,145 shares of the industrial products company’s stock worth $328,000 after buying an additional 3,980 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Energous by 34.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,139 shares of the industrial products company’s stock worth $274,000 after buying an additional 4,354 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Energous by 23.3% during the 1st quarter. Wells Fargo & Company MN now owns 26,388 shares of the industrial products company’s stock worth $424,000 after buying an additional 4,981 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Energous by 29.6% during the 2nd quarter. Rhumbline Advisers now owns 22,285 shares of the industrial products company’s stock worth $330,000 after buying an additional 5,087 shares in the last quarter. 24.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WATT traded down $0.95 on Friday, hitting $11.28. The company’s stock had a trading volume of 16,750 shares, compared to its average volume of 413,770. The company has a market capitalization of $328.45 million, a P/E ratio of -4.87 and a beta of 1.44. Energous has a fifty-two week low of $6.91 and a fifty-two week high of $33.50.
Energous Company Profile
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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