Energous (WATT) Trading Down 7%

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Shares of Energous Corp (NASDAQ:WATT) dropped 7% during mid-day trading on Friday . The company traded as low as $4.60 and last traded at $4.62. Approximately 505,359 shares were traded during trading, a decline of 49% from the average daily volume of 981,745 shares. The stock had previously closed at $4.97.

WATT has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Energous from a “neutral” rating to a “buy” rating and set a $6.50 price target for the company in a report on Wednesday, May 1st. BidaskClub upgraded shares of Energous from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded shares of Energous from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Roth Capital cut their price target on shares of Energous from $18.10 to $12.70 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, ValuEngine upgraded shares of Energous from a “sell” rating to a “hold” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Energous currently has a consensus rating of “Hold” and an average price target of $18.07.

The stock has a market capitalization of $154.23 million, a price-to-earnings ratio of -2.32 and a beta of 1.83.

Energous (NASDAQ:WATT) last posted its quarterly earnings data on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.48). The firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.80 million. Energous had a negative net margin of 8,692.28% and a negative return on equity of 169.14%. On average, research analysts anticipate that Energous Corp will post -1.49 EPS for the current year.

In related news, COO Cesar Johnston sold 5,400 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $6.18, for a total transaction of $33,372.00. Following the completion of the transaction, the chief operating officer now owns 324,990 shares of the company’s stock, valued at approximately $2,008,438.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 10,725 shares of company stock valued at $66,281 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of WATT. Brave Asset Management Inc. purchased a new position in shares of Energous during the 1st quarter worth approximately $74,000. HighTower Advisors LLC purchased a new position in shares of Energous during the 1st quarter worth approximately $77,000. Raymond James & Associates purchased a new position in shares of Energous during the 1st quarter worth approximately $84,000. FNY Investment Advisers LLC boosted its position in Energous by 285.7% in the 1st quarter. FNY Investment Advisers LLC now owns 13,500 shares of the industrial products company’s stock valued at $85,000 after buying an additional 10,000 shares during the period. Finally, Schnieders Capital Management LLC purchased a new position in Energous in the 4th quarter valued at approximately $89,000. 24.12% of the stock is owned by hedge funds and other institutional investors.

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Energous Company Profile (NASDAQ:WATT)

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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