Energous (NASDAQ:WATT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $19.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 4.11% from the company’s current price.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
Several other brokerages have also recently weighed in on WATT. Roth Capital set a $45.80 price target on Energous and gave the company a “buy” rating in a research report on Thursday, December 28th. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Ladenburg Thalmann lifted their price target on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. National Securities reiterated a “buy” rating on shares of Energous in a research report on Friday, February 16th. Finally, BidaskClub cut Energous from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.33.
Energous (NASDAQ:WATT) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.02). The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.27 million. Energous had a negative net margin of 4,278.77% and a negative return on equity of 312.80%. analysts predict that Energous will post -1.81 EPS for the current fiscal year.
In related news, Director Michael Aaron Leabman sold 52,000 shares of Energous stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $20.01, for a total transaction of $1,040,520.00. Following the completion of the sale, the director now owns 100,279 shares of the company’s stock, valued at $2,006,582.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cesar Johnston sold 2,578 shares of Energous stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $22.06, for a total value of $56,870.68. Following the sale, the executive vice president now directly owns 146,277 shares of the company’s stock, valued at approximately $3,226,870.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,495 shares of company stock valued at $4,099,068. 6.30% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Newport Wealth Strategies Inc. bought a new stake in Energous during the fourth quarter valued at $261,000. Harvest Capital Strategies LLC bought a new stake in Energous during the fourth quarter valued at $3,112,000. Millennium Management LLC boosted its stake in Energous by 534.3% during the fourth quarter. Millennium Management LLC now owns 110,684 shares of the industrial products company’s stock valued at $2,153,000 after buying an additional 93,233 shares during the period. Two Sigma Securities LLC bought a new stake in Energous during the fourth quarter valued at $204,000. Finally, Deutsche Bank AG boosted its stake in Energous by 11.6% during the fourth quarter. Deutsche Bank AG now owns 57,372 shares of the industrial products company’s stock valued at $1,114,000 after buying an additional 5,966 shares during the period. 32.89% of the stock is owned by institutional investors.
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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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