Zacks Investment Research upgraded shares of Energous Corp. (NASDAQ:WATT) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $18.00 price target on the stock.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
Separately, Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $15.00 price target (up previously from $13.00) on shares of Energous Corp. in a research report on Tuesday, August 16th. Five investment analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus target price of $14.75.
Energous Corp. (NASDAQ:WATT) opened at 16.24 on Wednesday. Energous Corp. has a 12 month low of $3.65 and a 12 month high of $20.13. The stock has a 50 day moving average price of $17.66 and a 200 day moving average price of $13.21. The firm’s market cap is $276.78 million.
Energous Corp. (NASDAQ:WATT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.62) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.62). On average, equities analysts expect that Energous Corp. will post ($1.95) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Energous Corp. by 12.1% in the second quarter. Vanguard Group Inc. now owns 504,743 shares of the company’s stock valued at $6,537,000 after buying an additional 54,470 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in Energous Corp. during the second quarter valued at $113,000. Nationwide Fund Advisors acquired a new position in Energous Corp. during the second quarter valued at $122,000. Schnieders Capital Management LLC boosted its position in Energous Corp. by 93.2% in the second quarter. Schnieders Capital Management LLC now owns 45,593 shares of the company’s stock valued at $590,000 after buying an additional 21,993 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its position in Energous Corp. by 68.8% in the second quarter. Cadence Capital Management LLC now owns 41,270 shares of the company’s stock valued at $534,000 after buying an additional 16,820 shares in the last quarter. 24.28% of the stock is owned by institutional investors and hedge funds.
Energous Corp. Company Profile
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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