Energous (WATT) Stock Rating Upgraded by Zacks Investment Research

Energous (NASDAQ:WATT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “

A number of other equities analysts have also recently issued reports on WATT. ValuEngine cut Energous from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub raised Energous from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Energous currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Shares of WATT opened at $5.08 on Friday. Energous has a 1 year low of $4.41 and a 1 year high of $20.50. The company has a market capitalization of $153.97 million, a PE ratio of -2.55 and a beta of 1.97.

Energous (NASDAQ:WATT) last issued its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.48). Energous had a negative return on equity of 164.83% and a negative net margin of 9,871.85%. Research analysts predict that Energous will post -1.24 earnings per share for the current year.

In related news, EVP Cesar Johnston sold 8,089 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $7.40, for a total transaction of $59,858.60. Following the sale, the executive vice president now directly owns 176,879 shares in the company, valued at approximately $1,308,904.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sereda sold 3,400 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $7.51, for a total value of $25,534.00. Following the sale, the insider now owns 117,199 shares in the company, valued at $880,164.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,006 shares of company stock worth $179,734. 7.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cheyne Capital Management UK LLP bought a new stake in Energous during the 3rd quarter worth approximately $101,000. FNY Investment Advisers LLC grew its position in Energous by 285.7% during the 1st quarter. FNY Investment Advisers LLC now owns 13,500 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 10,000 shares during the last quarter. Schnieders Capital Management LLC bought a new stake in Energous during the 4th quarter worth approximately $89,000. Newport Wealth Strategies Inc. bought a new stake in Energous during the 4th quarter worth approximately $120,000. Finally, Jane Street Group LLC bought a new stake in Energous during the 3rd quarter worth approximately $184,000. Institutional investors and hedge funds own 27.34% of the company’s stock.

About Energous

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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