Shares of Energous Corp (NASDAQ:WATT) gapped up prior to trading on Thursday . The stock had previously closed at $8.55, but opened at $8.21. Energous shares last traded at $8.21, with a volume of 13048 shares trading hands.
A number of analysts have commented on WATT shares. ValuEngine cut shares of Energous from a “hold” rating to a “sell” rating in a research note on Monday, September 17th. Roth Capital set a $25.00 price target on shares of Energous and gave the company a “buy” rating in a research note on Wednesday, October 31st. LADENBURG THALM/SH SH cut shares of Energous from a “buy” rating to a “neutral” rating and set a $8.00 price target for the company. in a research note on Wednesday, October 31st. Finally, National Securities reiterated a “buy” rating and issued a $35.00 price target on shares of Energous in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.00.
The company has a market capitalization of $172.42 million, a PE ratio of -3.49 and a beta of 1.91.
Energous (NASDAQ:WATT) last posted its earnings results on Tuesday, October 30th. The industrial products company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). The company had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.20 million. Energous had a negative net margin of 10,168.85% and a negative return on equity of 170.01%. On average, analysts predict that Energous Corp will post -2 earnings per share for the current year.
In other news, VP Neeraj Sahejpal sold 3,675 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $6.87, for a total transaction of $25,247.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cesar Johnston sold 6,300 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $6.87, for a total transaction of $43,281.00. Following the sale, the executive vice president now owns 151,600 shares of the company’s stock, valued at approximately $1,041,492. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,134 shares of company stock valued at $129,141. 6.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WATT. Cheyne Capital Management UK LLP acquired a new stake in Energous in the 3rd quarter worth about $101,000. Calton & Associates Inc. acquired a new stake in Energous in the 3rd quarter worth about $101,000. Fox Run Management L.L.C. acquired a new stake in Energous in the 3rd quarter worth about $132,000. Jane Street Group LLC acquired a new stake in Energous in the 3rd quarter worth about $184,000. Finally, Virtu Financial LLC acquired a new stake in Energous in the 3rd quarter worth about $301,000. Institutional investors own 24.31% of the company’s stock.
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Energous Company Profile (NASDAQ:WATT)
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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