Energous (NASDAQ:WATT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, December 27th.
Separately, Zacks Investment Research downgraded Energous from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.93.
Energous (NASDAQ WATT) opened at $20.00 on Wednesday. Energous has a twelve month low of $6.91 and a twelve month high of $33.50. The firm has a market capitalization of $444.27, a price-to-earnings ratio of -7.81 and a beta of 1.93.
Energous (NASDAQ:WATT) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.03). Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. The business had revenue of $0.25 million for the quarter, compared to analyst estimates of $1.20 million. research analysts predict that Energous will post -2.18 earnings per share for the current fiscal year.
In other news, Director John Gaulding sold 25,000 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $29.66, for a total value of $741,500.00. Following the sale, the director now directly owns 73,312 shares in the company, valued at $2,174,433.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Neeraj Sahejpal sold 2,846 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $9.35, for a total value of $26,610.10. Following the completion of the sale, the vice president now owns 89,123 shares in the company, valued at $833,300.05. The disclosure for this sale can be found here. Insiders sold 282,562 shares of company stock worth $7,128,895 over the last 90 days. Company insiders own 6.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Energous by 12.0% in the second quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock valued at $11,523,000 after purchasing an additional 75,862 shares during the last quarter. Robecosam AG acquired a new position in Energous in the second quarter valued at $1,645,000. State Street Corp increased its stake in Energous by 11.4% in the second quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock valued at $4,203,000 after purchasing an additional 26,538 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Energous in the second quarter valued at $296,000. Finally, Northern Trust Corp increased its stake in Energous by 27.8% in the second quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock valued at $3,498,000 after purchasing an additional 46,799 shares during the last quarter. Hedge funds and other institutional investors own 38.97% of the company’s stock.
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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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