Energous (NASDAQ:WATT) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, October 16th.
A number of other research analysts also recently issued reports on WATT. BidaskClub upgraded shares of Energous from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Roth Capital dropped their price target on shares of Energous from $48.50 to $24.50 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Finally, National Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of Energous in a research note on Sunday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.00.
NASDAQ:WATT traded down $0.26 during mid-day trading on Tuesday, hitting $9.26. 341,281 shares of the company’s stock were exchanged, compared to its average volume of 544,805. Energous has a fifty-two week low of $7.36 and a fifty-two week high of $33.50.
Energous (NASDAQ:WATT) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported ($0.49) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.49). The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.20 million. Energous had a negative net margin of 10,168.85% and a negative return on equity of 165.66%. On average, analysts expect that Energous will post -2 earnings per share for the current fiscal year.
In other news, EVP Cesar Johnston sold 10,683 shares of Energous stock in a transaction on Monday, August 20th. The shares were sold at an average price of $12.59, for a total value of $134,498.97. Following the completion of the sale, the executive vice president now owns 157,900 shares in the company, valued at approximately $1,987,961. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Neeraj Sahejpal sold 3,069 shares of Energous stock in a transaction on Monday, August 20th. The shares were sold at an average price of $12.59, for a total transaction of $38,638.71. Following the completion of the sale, the vice president now owns 103,689 shares of the company’s stock, valued at approximately $1,305,444.51. The disclosure for this sale can be found here. Insiders sold a total of 17,762 shares of company stock valued at $223,624 in the last quarter. 6.80% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Cheyne Capital Management UK LLP bought a new stake in shares of Energous in the 3rd quarter valued at $202,000. Wells Fargo & Company MN increased its stake in Energous by 43.2% during the 3rd quarter. Wells Fargo & Company MN now owns 40,774 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 12,299 shares in the last quarter. Calton & Associates Inc. bought a new stake in Energous during the 3rd quarter valued at $101,000. Fox Run Management L.L.C. bought a new stake in Energous during the 3rd quarter valued at $132,000. Finally, Northern Trust Corp increased its stake in Energous by 21.9% during the 2nd quarter. Northern Trust Corp now owns 254,363 shares of the industrial products company’s stock valued at $3,772,000 after purchasing an additional 45,684 shares in the last quarter. Institutional investors own 23.99% of the company’s stock.
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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