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Energous Corp. (NASDAQ: WATT) shares traded up 5.2% during trading on Thursday. The stock traded as $ 8.88 and last traded at $ 8.70. 527,123 shares traded during trading, a decline of 57% from the average session volume of 1,222,193 shares. The stock had previously closed at $ 8.27.
Several research badysts recently commented on WATT shares. ValuEngine downgraded Energous from a "hold" rating to a "sell" rating in a research report on Monday, September 17th. Roth Capital discounted their price target on Energies from $ 48.50 to $ 24.50 and set a "buy" rating on a stock market research report on Thursday, August 2nd. National Securities reaffirmed a "buy" rating and set a $ 35.00 on August 5th. Finally, BidaskClub downgraded Energous from a "sell" rating to a "strong sell" rating in a research report on Thursday, August 16th. One equities research badyst has rated the value of a credit rating and has issued a rating and has issued a rating for the company. The stock currently has an average rating of "Hold" and an average price target of $ 27.88.
The stock has a market cap of $ 222.89 million, a PE ratio of -3.44 and a beta of 1.47.
Energous (NASDAQ: WATT) last Wednesday, August 1st. The industrial products company reported ($ 0.48) earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of ($ 0.54) by $ 0.06. Had a negative net margin of 9,750.39% and a negative return on equity of 182.29%. The firm had revenue of $ 0.21 million for the quarter, compared to the consensus estimate of $ 0.22 million. Sell-side badysts expect that Energous Corp will post -2.06 EPS for the current fiscal year.
In other Energous news, VP Neeraj Sahejpal sold 3,069 shares of the company's stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $ 12.59, for a total transaction of $ 38,638.71. Following the transaction, the vice president now owns 103,689 shares in the company, valued at approximately $ 1,305,444.51. The document was disclosed in the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sereda sold 4,010 shares of the company's stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $ 12.59, for a total transaction of $ 50,485.90. Following the transaction, the insider now owns 115,652 shares in the company, valued at approximately $ 1,456,058.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,762 shares of company stock worth $ 223,624. Corporate insiders own 6.80% of the company's stock.
A number of institutional investors have recently modified their holdings of the business. Creative Planning increased its position in shares of Energous by 28.2% in the 2nd quarter. Creative Planning now owns 16,363 shares of the industrial products company's stock value at $ 243,000 after acquiring an additional 3,596 shares during the period. State Board of Administration of the Florida Retirement System in its shares of Energous by 21.9% in the 2nd quarter. State Retirement System now owns 22,145 shares of the industrial products company's stock value at $ 328,000 after acquiring an additional 3,980 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Energy by 34.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,139 shares of the industrial products company's stock value at $ 274,000 after acquiring an additional 4,354 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Energy by 23.3% in the first quarter. Wells Fargo & Company MN now owns 26,388 shares of the industrial products company is valued at $ 424,000 after purchasing an additional 4,981 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Energous by 29.6% in the second quarter. Rhumbline Advisers now owns 22,285 shares of the industrial products company's stock value at $ 330,000 after purchasing an additional 5,087 shares during the period. Institutional investors and hedge funds 24.00% of the company's stock.
Energous Company Profile (NASDAQ: WATT)
Energous Corporation engages in the development of a wire-free charging system. It develops WattUp which consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power and remote control.
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