Energous (NASDAQ:WATT) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Energous (NASDAQ:WATT – Get Rating) in a research report report published on Monday. The firm issued a sell rating on the industrial products company’s stock.

Energous Price Performance

Shares of Energous stock opened at $0.31 on Monday. Energous has a one year low of $0.30 and a one year high of $1.57. The firm has a market capitalization of $28.23 million, a price-to-earnings ratio of -0.94 and a beta of 2.59. The business has a 50-day simple moving average of $0.42 and a 200 day simple moving average of $0.70.

Energous (NASDAQ:WATT – Get Rating) last issued its earnings results on Thursday, March 9th. The industrial products company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Energous had a negative return on equity of 88.08% and a negative net margin of 3,521.31%. The business had revenue of $0.18 million during the quarter, compared to analyst estimates of $0.24 million. On average, sell-side analysts expect that Energous will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other Energous news, CEO Cesar Johnston sold 48,238 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $0.56, for a total transaction of $27,013.28. Following the completion of the sale, the chief executive officer now directly owns 797,461 shares of the company’s stock, valued at approximately $446,578.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 56,669 shares of company stock valued at $30,833. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Energous

Hedge funds and other institutional investors have recently modified their holdings of the business. Doheny Asset Management CA purchased a new position in shares of Energous in the 3rd quarter worth approximately $65,000. Armistice Capital LLC purchased a new position in shares of Energous in the 1st quarter worth approximately $4,244,000. BlackRock Inc. boosted its stake in shares of Energous by 1.9% in the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock worth $1,077,000 after buying an additional 17,142 shares during the last quarter. State Street Corp lifted its stake in Energous by 8.9% in the third quarter. State Street Corp now owns 208,725 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Energous in the first quarter valued at approximately $96,000. Hedge funds and other institutional investors own 9.26% of the company’s stock.

Energous Company Profile

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Energous Corp. engages in the development of wireless charging technology. It focuses on the product, WattUp, a wireless power technology consisting of proprietary semiconductor chipsets, software controls, hardware designs, and antennas, that enables radio frequency based charging for electronic devices.