Energous (NASDAQ:WATT) Announces Earnings Results, Beats Estimates By $0.03 EPS

Energous (NASDAQ:WATT) issued its quarterly earnings results on Thursday. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03, Fidelity Earnings reports. Energous had a negative net margin of 11,509.27% and a negative return on equity of 172.39%. The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.40 million.

NASDAQ:WATT traded down $0.51 on Friday, reaching $2.32. 1,777,900 shares of the stock traded hands, compared to its average volume of 613,482. The company has a market capitalization of $86.09 million, a price-to-earnings ratio of -1.17 and a beta of 1.74. Energous has a 12 month low of $1.93 and a 12 month high of $11.54. The company’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $3.97.

A number of research analysts recently issued reports on the stock. Roth Capital lowered their price target on shares of Energous from $8.20 to $7.00 and set a “buy” rating for the company in a research report on Friday. Zacks Investment Research restated a “buy” rating and set a $5.25 price objective on shares of Energous in a research note on Saturday, July 20th. Finally, ValuEngine upgraded shares of Energous from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $6.25.

In other news, CFO Brian J. Sereda sold 10,313 shares of Energous stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.58, for a total value of $36,920.54. Following the completion of the sale, the chief financial officer now directly owns 159,386 shares in the company, valued at $570,601.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Cesar Johnston sold 16,875 shares of Energous stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.58, for a total transaction of $60,412.50. Following the completion of the sale, the chief operating officer now owns 303,971 shares of the company’s stock, valued at $1,088,216.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,101 shares of company stock valued at $131,765. 7.00% of the stock is owned by company insiders.

Energous Company Profile

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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Earnings History for Energous (NASDAQ:WATT)

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