Energous (WATT) Announces Quarterly Earnings Results

Energous (NASDAQ:WATT) posted its quarterly earnings data on Tuesday. The industrial products company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49), MarketWatch Earnings reports. Energous had a negative return on equity of 182.29% and a negative net margin of 9,750.39%. The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.20 million.

Shares of WATT stock traded down $0.86 during trading hours on Wednesday, reaching $7.93. The company had a trading volume of 27,919 shares, compared to its average volume of 424,923. The company has a market cap of $203.42 million, a P/E ratio of -3.45 and a beta of 1.47. Energous has a 1-year low of $6.91 and a 1-year high of $33.50.

In other news, EVP Cesar Johnston sold 10,683 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $12.59, for a total value of $134,498.97. Following the transaction, the executive vice president now owns 157,900 shares of the company’s stock, valued at approximately $1,987,961. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $38,638.71. Following the completion of the transaction, the vice president now directly owns 103,689 shares in the company, valued at approximately $1,305,444.51. The disclosure for this sale can be found here. In the last three months, insiders sold 17,762 shares of company stock worth $223,624. 6.80% of the stock is currently owned by company insiders.



An institutional investor recently raised its position in Energous stock. Bank of New York Mellon Corp grew its stake in Energous Corp (NASDAQ:WATT) by 13.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,271 shares of the industrial products company’s stock after purchasing an additional 8,450 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of Energous worth $1,027,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.94% of the company’s stock.

Several research analysts have issued reports on the company. National Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of Energous in a report on Wednesday. LADENBURG THALM/SH SH downgraded Energous from a “buy” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Wednesday. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, BidaskClub downgraded Energous from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.88.

Energous Company Profile

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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Earnings History for Energous (NASDAQ:WATT)

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