Energous (NASDAQ:WATT) Issues Quarterly Earnings Results

Energous (NASDAQ:WATT – Get Rating) announced its quarterly earnings results on Wednesday. The industrial products company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06, Fidelity Earnings reports. Energous had a negative return on equity of 98.18% and a negative net margin of 5,479.90%. During the same quarter last year, the firm earned ($0.14) earnings per share.

Shares of NASDAQ WATT opened at $0.89 on Friday. Energous has a 1-year low of $0.82 and a 1-year high of $3.88. The business has a 50-day moving average of $1.08 and a 200-day moving average of $1.28. The company has a market capitalization of $68.16 million, a price-to-earnings ratio of -1.49 and a beta of 2.89.

Several brokerages have commented on WATT. Zacks Investment Research lowered Energous from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. LADENBURG THALM/SH SH dropped their price target on Energous from $5.00 to $1.50 in a research note on Tuesday, March 1st. Finally, StockNews.com initiated coverage on Energous in a research report on Thursday, March 31st. They issued a “sell” rating for the company.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Energous by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 680,829 shares of the industrial products company’s stock worth $851,000 after buying an additional 9,834 shares during the period. Advisor Group Holdings Inc. boosted its position in shares of Energous by 52.6% in the first quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock worth $60,000 after buying an additional 11,650 shares during the period. Dimensional Fund Advisors LP purchased a new position in Energous in the third quarter valued at about $33,000. BlackRock Inc. boosted its holdings in Energous by 1.9% in the first quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock valued at $1,077,000 after purchasing an additional 17,142 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Energous by 79.8% in the third quarter. Bank of New York Mellon Corp now owns 66,433 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 29,490 shares during the last quarter. 10.30% of the stock is owned by institutional investors.

About Energous (Get Rating)

Energous Corporation develops wireless 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 charging for electronic devices. The company's products are used in home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.

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