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.
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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