Energous (NASDAQ:WATT) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Energous (NASDAQ:WATT) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH downgraded shares of Energous from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.50 to $2.00 in a research note on Friday, April 5th.

Energous Trading Down 9.5 %

NASDAQ:WATT opened at $1.43 on Tuesday. The company’s 50-day moving average price is $1.92 and its 200-day moving average price is $1.88. The company has a market cap of $8.69 million, a P/E ratio of -0.35 and a beta of 2.55. Energous has a twelve month low of $1.42 and a twelve month high of $9.36.

Hedge Funds Weigh In On Energous

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in shares of Energous in the first quarter worth about $96,000. Armistice Capital LLC purchased a new position in Energous during the first quarter worth about $4,244,000. Jane Street Group LLC raised its stake in Energous by 145.6% during the fourth quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 19,671 shares during the period. Advisor Group Holdings Inc. raised its stake in Energous by 90.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 32,456 shares during the period. Finally, State Street Corp raised its stake in Energous by 8.9% during the third quarter. State Street Corp now owns 208,725 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 17,000 shares during the period. 4.35% of the stock is owned by hedge funds and other institutional investors.

About Energous

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