Energous (WATT) Rating Reiterated by National Securities

Energous (NASDAQ:WATT)‘s stock had its “buy” rating reaffirmed by analysts at National Securities in a report released on Wednesday. They currently have a $35.00 price target on the industrial products company’s stock. National Securities’ price target suggests a potential upside of 312.25% from the stock’s current price.

Other research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH lowered shares of Energous from a “buy” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Wednesday. ValuEngine lowered shares of Energous from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Roth Capital dropped their price target on shares of Energous from $48.50 to $24.50 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Finally, BidaskClub lowered shares of Energous from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.00.

Shares of NASDAQ:WATT traded up $0.45 during mid-day trading on Wednesday, hitting $8.49. The stock had a trading volume of 134,260 shares, compared to its average volume of 444,604. The company has a market cap of $225.20 million, a PE ratio of -3.68 and a beta of 1.47. Energous has a 12-month low of $6.91 and a 12-month high of $33.50.

Energous (NASDAQ:WATT) last released its earnings results on Tuesday, October 30th. The industrial products company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). Energous had a negative net margin of 10,168.85% and a negative return on equity of 165.66%. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.20 million. As a group, sell-side analysts predict that Energous will post -2.06 EPS for the current year.

In other Energous news, insider Brian J. Sereda sold 4,010 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $12.59, for a total value of $50,485.90. Following the completion of the sale, the insider now directly owns 115,652 shares of the company’s stock, valued at approximately $1,456,058.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Neeraj Sahejpal sold 3,069 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 103,689 shares of the company’s stock, valued at $1,305,444.51. The disclosure for this sale can be found here. Insiders sold a total of 17,762 shares of company stock worth $223,624 over the last quarter. 6.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Calton & Associates Inc. bought a new stake in Energous in the 3rd quarter valued at $101,000. Fox Run Management L.L.C. bought a new stake in Energous in the 3rd quarter valued at $132,000. Northern Trust Corp boosted its holdings in Energous by 21.9% in the 2nd quarter. Northern Trust Corp now owns 254,363 shares of the industrial products company’s stock valued at $3,772,000 after purchasing an additional 45,684 shares during the period. Bank of New York Mellon Corp boosted its holdings in Energous by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,271 shares of the industrial products company’s stock valued at $1,027,000 after purchasing an additional 8,450 shares during the period. Finally, Natixis bought a new stake in Energous in the 2nd quarter valued at $370,000. 23.94% of the stock is owned by hedge funds and other institutional investors.

About Energous

Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.

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