Zacks: Brokerages Anticipate Energous Corp (WATT) Will Post Quarterly Sales of $100,000.00

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Brokerages predict that Energous Corp (NASDAQ:WATT) will post $100,000.00 in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Energous’ earnings. Energous posted sales of $30,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 233.3%. The company is expected to issue its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Energous will report full-year sales of $10.67 million for the current financial year, with estimates ranging from $1.00 million to $20.33 million. For the next financial year, analysts expect that the business will report sales of $202.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Energous.

Energous (NASDAQ:WATT) last announced its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.48). Energous had a negative return on equity of 164.83% and a negative net margin of 9,871.85%.

Several equities research analysts have recently issued reports on WATT shares. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research raised Energous from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Finally, BidaskClub raised Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $22.00.

In related news, insider Brian J. Sereda sold 3,400 shares of Energous stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $7.51, for a total value of $25,534.00. Following the completion of the sale, the insider now owns 117,199 shares of the company’s stock, valued at approximately $880,164.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Cesar Johnston sold 5,400 shares of Energous stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $6.18, for a total value of $33,372.00. Following the completion of the sale, the chief operating officer now directly owns 324,990 shares of the company’s stock, valued at approximately $2,008,438.20. The disclosure for this sale can be found here. In the last three months, insiders sold 26,006 shares of company stock valued at $179,734. 6.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in Energous by 63.1% in the 4th quarter. Deutsche Bank AG now owns 76,590 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 29,645 shares during the last quarter. Geode Capital Management LLC increased its holdings in Energous by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 224,776 shares of the industrial products company’s stock worth $1,301,000 after acquiring an additional 11,701 shares during the last quarter. Raging Capital Management LLC purchased a new stake in Energous in the 4th quarter worth about $770,000. Bank of America Corp DE increased its holdings in Energous by 155.8% in the 4th quarter. Bank of America Corp DE now owns 22,038 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 13,421 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Energous by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 71,653 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 3,758 shares during the last quarter. 27.34% of the stock is owned by institutional investors.

Shares of Energous stock opened at $6.05 on Friday. Energous has a 1 year low of $4.41 and a 1 year high of $21.00. The firm has a market cap of $164.08 million, a PE ratio of -3.04 and a beta of 1.97.

About Energous

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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