Energous Corp (NASDAQ:WATT) fell 8.7% during mid-day trading on Friday . The stock traded as low as $7.82 and last traded at $7.94. 634,249 shares were traded during trading, a decline of 48% from the average session volume of 1,219,366 shares. The stock had previously closed at $8.70.
WATT has been the topic of several analyst reports. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. BidaskClub downgraded Energous from a “sell” rating to a “strong sell” rating in a report on Thursday, August 16th. National Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of Energous in a report on Sunday, August 5th. Finally, Roth Capital decreased their price objective on Energous from $48.50 to $24.50 and set a “buy” rating on the stock in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Energous has a consensus rating of “Hold” and an average price target of $27.88.
Energous (NASDAQ:WATT) last released its quarterly earnings data on Wednesday, August 1st. The industrial products company reported ($0.48) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.06. The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.22 million. Energous had a negative return on equity of 182.29% and a negative net margin of 9,750.39%. Research analysts expect that Energous Corp will post -2.06 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in WATT. Wells Fargo & Company MN increased its holdings in Energous by 23.3% during the 1st quarter. Wells Fargo & Company MN now owns 26,388 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 4,981 shares during the period. PNC Financial Services Group Inc. purchased a new position in Energous during the 1st quarter valued at about $138,000. Commonwealth Equity Services LLC increased its holdings in Energous by 34.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,139 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 4,354 shares during the period. MetLife Investment Advisors LLC purchased a new position in Energous during the 1st quarter valued at about $144,000. Finally, LPL Financial LLC purchased a new position in Energous during the 1st quarter valued at about $293,000. Institutional investors own 24.00% of the company’s stock.
Energous Company Profile (NASDAQ:WATT)
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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