Energous Corp (NASDAQ:WATT) saw strong trading volume on Friday . 780,013 shares traded hands during trading, a decline of 2% from the previous session’s volume of 800,004 shares.The stock last traded at $4.59 and had previously closed at $4.26.
A number of analysts have issued reports on the stock. Roth Capital boosted their price target on shares of Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, LADENBURG THALM/SH SH upgraded shares of Energous from a “neutral” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.07.
The company has a 50 day moving average of $4.25. The stock has a market cap of $139.63 million, a PE ratio of -2.31 and a beta of 1.79.
Energous (NASDAQ:WATT) last released its earnings results on Tuesday, April 30th. The industrial products company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.08. Energous had a negative net margin of 8,692.28% and a negative return on equity of 169.14%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.10 million. Equities analysts anticipate that Energous Corp will post -1.49 earnings per share for the current fiscal year.
In related news, CFO Brian J. Sereda sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $4.51, for a total transaction of $90,200.00. Following the sale, the chief financial officer now directly owns 169,499 shares in the company, valued at $764,440.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 27,579 shares of company stock worth $124,454 over the last 90 days. Insiders own 7.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WATT. SG Americas Securities LLC boosted its holdings in Energous by 3.3% in the first quarter. SG Americas Securities LLC now owns 241,303 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 7,623 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Energous by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 224,776 shares of the industrial products company’s stock valued at $1,301,000 after purchasing an additional 11,701 shares in the last quarter. Raging Capital Management LLC acquired a new position in Energous in the fourth quarter valued at approximately $770,000. Deutsche Bank AG boosted its holdings in Energous by 63.1% in the fourth quarter. Deutsche Bank AG now owns 76,590 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 29,645 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Energous by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 71,653 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 3,758 shares in the last quarter. Hedge funds and other institutional investors own 25.04% of the company’s stock.
About Energous (NASDAQ:WATT)
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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