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
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
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.
- Get a free copy of the StockNews.com research report on Energous (WATT)
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