Energous (NASDAQ:WATT) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Energous (NASDAQ:WATT – Get Rating) in a research note published on Monday. The firm issued a sell rating on the industrial products company’s stock.

Energous Price Performance

Shares of WATT opened at $0.31 on Monday. Energous has a one year low of $0.30 and a one year high of $1.57. The company has a 50-day simple moving average of $0.42 and a two-hundred day simple moving average of $0.70. The firm has a market capitalization of $28.23 million, a PE ratio of -0.94 and a beta of 2.59.

Energous (NASDAQ:WATT – Get Rating) last announced its earnings results on Thursday, March 9th. The industrial products company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Energous had a negative net margin of 3,521.31% and a negative return on equity of 88.08%. The business had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.24 million. Analysts expect that Energous will post -0.31 EPS for the current fiscal year.

Insider Activity at Energous

In related news, CEO Cesar Johnston sold 48,238 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $0.56, for a total transaction of $27,013.28. Following the completion of the sale, the chief executive officer now owns 797,461 shares of the company’s stock, valued at $446,578.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 56,669 shares of company stock valued at $30,833 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Energous

A number of large investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. grew its position in Energous by 52.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 11,650 shares during the period. State Street Corp boosted its stake in shares of Energous by 10.3% during the 1st quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock worth $203,000 after acquiring an additional 15,766 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Energous by 1.9% during the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock worth $1,077,000 after acquiring an additional 17,142 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Energous by 145.6% during the 4th quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 19,671 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Energous during the 2nd quarter worth $53,000. Institutional investors own 9.26% of the company’s stock.

Energous Company Profile

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Energous Corp. engages in the development of wireless charging technology. It focuses on the product, WattUp, a wireless power technology consisting of proprietary semiconductor chipsets, software controls, hardware designs, and antennas, that enables radio frequency based charging for electronic devices.