Short Interest in Energous Co. (NASDAQ:WATT) Increases By 295.7%

Energous Co. (NASDAQ:WATT) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,780,000 shares, a growth of 295.7% from the December 15th total of 955,200 shares. Approximately 19.5% of the company’s shares are sold short. Based on an average trading volume of 5,640,000 shares, the days-to-cover ratio is currently 0.7 days.

Energous Price Performance

Shares of NASDAQ:WATT traded down $0.09 during trading on Monday, hitting $0.66. The company had a trading volume of 2,132,726 shares, compared to its average volume of 11,444,556. The stock has a market cap of $6.68 million, a price-to-earnings ratio of -0.21 and a beta of 2.36. The company has a fifty day simple moving average of $0.57 and a two-hundred day simple moving average of $0.71. Energous has a one year low of $0.28 and a one year high of $2.75.

Energous (NASDAQ:WATT) last released its quarterly earnings results on Tuesday, November 12th. The industrial products company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.24. Energous had a negative return on equity of 317.56% and a negative net margin of 4,368.98%. The company had revenue of $0.23 million for the quarter.

Hedge Funds Weigh In On Energous

An institutional investor recently raised its position in Energous stock. Armistice Capital LLC boosted its position in shares of Energous Co. (NASDAQ:WATT) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 408,000 shares of the industrial products company’s stock after purchasing an additional 126,409 shares during the quarter. Armistice Capital LLC owned about 6.24% of Energous worth $445,000 as of its most recent filing with the Securities & Exchange Commission. 4.35% of the stock is currently owned by institutional investors.

Energous Company Profile

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.