HC Wainwright Begins Coverage on Energous (NASDAQ:WATT)

Investment analysts at HC Wainwright initiated coverage on shares of Energous (NASDAQ:WATT) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $15.00 price target on the industrial products company’s stock. HC Wainwright‘s target price indicates a potential upside of 77.73% from the company’s current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Energous from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Wall Street Zen lowered shares of Energous from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Energous currently has a consensus rating of “Hold” and an average price target of $15.00.

Energous Trading Down 3.9%

WATT stock opened at $8.44 on Tuesday. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $16.00. Energous has a 12 month low of $3.62 and a 12 month high of $36.98. The firm has a market capitalization of $46.65 million, a P/E ratio of -3.82 and a beta of 1.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WATT. Fermata Advisors LLC purchased a new stake in Energous in the third quarter valued at approximately $181,000. Quantinno Capital Management LP purchased a new position in Energous in the 1st quarter worth approximately $220,000. 3Chopt Investment Partners LLC purchased a new position in Energous in the 1st quarter worth approximately $282,000. Flagship Harbor Advisors LLC increased its holdings in shares of Energous by 47.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 22,350 shares of the industrial products company’s stock worth $294,000 after buying an additional 7,200 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Energous in the 2nd quarter worth $301,000. Hedge funds and other institutional investors own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation develops wireless power-at-a-distance technology and related semiconductor solutions. Its WattUp platform is designed to transmit radio frequency (RF) energy wirelessly to compatible devices, reducing or eliminating the need for traditional charging cables and charging pads.

The company’s products include wireless power transmitters, receivers, reference designs and software intended for integration into connected devices and commercial systems. Its technology is aimed at applications across the Internet of Things, consumer electronics, healthcare, industrial equipment, retail and logistics, including sensors, wearables, asset-tracking devices and other low-power electronics.

Founded in 2012 and headquartered in San Jose, California, Energous has pursued partnerships and commercialization opportunities with technology and hardware companies in multiple international markets.