ValuEngine cut shares of Energous (NASDAQ:WATT) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
WATT has been the subject of several other reports. National Securities reissued a buy rating on shares of Energous in a report on Friday, February 16th. Ladenburg Thalmann Financial Services boosted their price target on Energous from $20.00 to $32.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded Energous from a sell rating to a hold rating in a research report on Saturday, January 13th. Finally, Roth Capital set a $45.80 price target on Energous and gave the company a buy rating in a research report on Thursday, December 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $31.00.
Energous (WATT) traded up $0.18 during trading on Wednesday, hitting $21.95. The stock had a trading volume of 1,367,028 shares, compared to its average volume of 1,790,000. Energous has a fifty-two week low of $6.91 and a fifty-two week high of $33.50. The stock has a market cap of $487.59, a P/E ratio of -9.46 and a beta of 1.40.
In other Energous news, VP Neeraj Sahejpal sold 2,986 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $33.19, for a total transaction of $99,105.34. Following the transaction, the vice president now owns 83,867 shares in the company, valued at approximately $2,783,545.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Aaron Leabman sold 29,610 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $20.57, for a total value of $609,077.70. Following the transaction, the insider now owns 152,279 shares in the company, valued at approximately $3,132,379.03. The disclosure for this sale can be found here. Insiders sold a total of 468,633 shares of company stock worth $11,144,482 in the last 90 days. 6.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. acquired a new position in Energous during the 4th quarter worth approximately $150,000. Tower Research Capital LLC TRC increased its position in Energous by 248.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,635 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 6,159 shares during the period. Nationwide Fund Advisors increased its position in Energous by 26.0% during the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,216 shares during the period. SG Americas Securities LLC acquired a new position in Energous during the 3rd quarter worth approximately $187,000. Finally, HRT Financial LLC acquired a new position in Energous during the 4th quarter worth approximately $196,000. Institutional investors own 36.56% of the company’s stock.
Energous 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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