Energous (WATT) Downgraded by ValuEngine

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ValuEngine cut shares of Energous (NASDAQ:WATT) from a buy rating to a hold rating in a research report released on Tuesday.

Several other research analysts have also commented on the stock. BidaskClub lowered shares of Energous from a sell rating to a strong sell rating in a research note on Thursday, August 16th. National Securities reaffirmed a buy rating and set a $35.00 price objective on shares of Energous in a research note on Sunday, August 5th. Roth Capital dropped their price objective on shares of Energous from $48.50 to $24.50 and set a buy rating for the company in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of Energous from a buy rating to a hold rating in a research note on Friday, June 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Energous presently has an average rating of Hold and a consensus target price of $27.88.

NASDAQ WATT opened at $11.30 on Tuesday. Energous has a 52 week low of $6.91 and a 52 week high of $33.50.

Energous (NASDAQ:WATT) last posted its quarterly earnings data 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 company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.22 million. Energous had a negative net margin of 9,750.39% and a negative return on equity of 182.29%. equities research analysts expect that Energous will post -2.06 earnings per share for the current fiscal year.

In other news, VP Neeraj Sahejpal sold 4,927 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $16.30, for a total transaction of $80,310.10. Following the completion of the sale, the vice president now directly owns 106,758 shares of the company’s stock, valued at $1,740,155.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Gaulding sold 4,096 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $16.10, for a total transaction of $65,945.60. Following the sale, the director now directly owns 117,224 shares of the company’s stock, valued at $1,887,306.40. The disclosure for this sale can be found here. Insiders have sold 46,105 shares of company stock valued at $670,112 over the last three months. Insiders own 6.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Energous during the first quarter valued at $138,000. MetLife Investment Advisors LLC purchased a new stake in Energous in the first quarter worth about $144,000. Atlantic Trust Group LLC lifted its stake 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 worth $211,000 after acquiring an additional 8,150 shares during the period. Wedbush Securities Inc. purchased a new stake in Energous in the first quarter worth about $218,000. Finally, Creative Planning lifted its stake in Energous by 28.2% in the second quarter. Creative Planning now owns 16,363 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 3,596 shares during the period. 24.06% of the stock is owned by hedge funds and other institutional investors.

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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