Energous (NASDAQ:WATT) Raised to “Hold” at Wall Street Zen

Energous (NASDAQ:WATT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Energous from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Energous Stock Performance

NASDAQ:WATT opened at $11.33 on Friday. Energous has a 1 year low of $3.62 and a 1 year high of $36.98. The stock has a market cap of $62.65 million, a P/E ratio of -5.13 and a beta of 1.56. The stock has a 50-day simple moving average of $14.51 and a 200-day simple moving average of $19.05.

Institutional Trading of Energous

Several hedge funds and other institutional investors have recently made changes to their positions in WATT. AIGH Capital Management LLC purchased a new position in Energous during the first quarter worth about $3,373,000. Armistice Capital LLC acquired a new position in Energous during the 3rd quarter worth approximately $1,202,000. GatePass Capital LLC purchased a new position in shares of Energous during the 1st quarter worth approximately $1,820,000. NewEdge Advisors LLC raised its stake in shares of Energous by 20.2% during the 2nd quarter. NewEdge Advisors LLC now owns 38,397 shares of the industrial products company’s stock worth $923,000 after buying an additional 6,451 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Energous in the 2nd quarter valued at approximately $473,000. Hedge funds and other institutional investors own 4.35% of the company’s stock.

Energous Company Profile

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.