Energous (WATT) Shares Up 6.7%

Energous Corporation (NASDAQ:WATT) shares shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $26.88 and last traded at $23.44. 11,815,300 shares were traded during mid-day trading, an increase of 17% from the average session volume of 10,098,660 shares. The stock had previously closed at $21.97.

A number of research firms recently issued reports on WATT. Ladenburg Thalmann Financial Services lifted their price target on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Roth Capital set a $45.80 price objective on Energous and gave the stock a “buy” rating in a report on Thursday, December 28th. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.93.

The firm has a market cap of $497.81, a price-to-earnings ratio of -8.75 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 Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). The firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $1.20 million. Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. equities analysts expect that Energous Corporation will post -2.18 EPS for the current fiscal year.

In other news, CEO Stephen R. Rizzone sold 75,000 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the completion of the transaction, the chief executive officer now directly owns 253,609 shares in the company, valued at approximately $6,603,978.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Neeraj Sahejpal sold 2,846 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $9.35, for a total value of $26,610.10. Following the transaction, the vice president now owns 89,123 shares of the company’s stock, valued at $833,300.05. The disclosure for this sale can be found here. Insiders have sold a total of 282,562 shares of company stock valued at $7,128,895 over the last three months. Company insiders own 6.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Hood River Capital Management LLC grew its position in shares of Energous by 2.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,334,815 shares of the industrial products company’s stock worth $21,704,000 after buying an additional 30,400 shares during the period. Vanguard Group Inc. grew its position in shares of Energous by 12.0% during the 2nd quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock worth $11,523,000 after buying an additional 75,862 shares during the period. State Street Corp grew its position in shares of Energous by 11.4% during the 2nd quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock worth $4,203,000 after buying an additional 26,538 shares during the period. Northern Trust Corp grew its position in shares of Energous by 27.8% during the 2nd quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock worth $3,498,000 after buying an additional 46,799 shares during the period. Finally, Robecosam AG acquired a new position in shares of Energous during the 2nd quarter worth about $1,645,000. Institutional investors own 38.97% of the company’s stock.

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Energous Company Profile

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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