Energous Corporation (NASDAQ:WATT) Sees Large Decline in Short Interest

Energous Corporation (NASDAQ:WATT) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 180,673 shares, a decrease of 32.8% from the January 15th total of 269,026 shares. Currently, 8.3% of the shares of the company are sold short. Based on an average trading volume of 257,249 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 257,249 shares, the days-to-cover ratio is currently 0.7 days. Currently, 8.3% of the shares of the company are sold short.

Institutional Trading of Energous

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Energous during the third quarter valued at approximately $87,000. Armistice Capital LLC acquired a new stake in shares of Energous in the third quarter valued at $1,202,000. Finally, Geode Capital Management LLC boosted its stake in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares in the last quarter. 4.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Energous has a consensus rating of “Sell”.

Energous Price Performance

Shares of WATT stock opened at $11.38 on Monday. The business has a 50 day simple moving average of $6.12 and a 200 day simple moving average of $7.21. The firm has a market capitalization of $24.81 million, a price-to-earnings ratio of -0.63 and a beta of 0.94. Energous has a 12-month low of $3.62 and a 12-month high of $18.36.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near?field and far?field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.